Wednesday 20th November, 2019
UK head quartered e-procurement firm, Wax Digital has announced its acquisition by Sweden-based Medius, a global accounts payable (AP) invoice automation solution provider.
Together, Medius and Wax Digital aim to provide both purchasing and finance functions a unified solution for complete control of costs, cash and compliance.
Both companies bring extensive experience and expertise in their respective areas, with native solutions built-out for the cloud with state-of-the-art technology, and easy, plug-and-play integrations into a range of ERP solutions.
“The decision to join forces with Wax underscores Medius’ commitment to supporting our customers’ eProcurement needs,” said Per Åkerberg, CEO of Medius. “We firmly believe Wax strengthens our product capabilities and provides a unique suite of solutions to continue to accelerate our growth globally.”
The combined modular source-to-pay (S2P) suite enables current and future customers to identify and track savings opportunities, find potential suppliers and establish optimal agreements while gaining increased efficiency, visibility and control throughout the entire source-to-pay process.
“Wax is delighted to have found a highly complementary partner in Medius who shares our mission of delivering best-in-class source-to-pay software solutions,” said Paul Ellis, CEO of Wax. “The acquisition combines two market-leading cloud offerings to create a business of scale, and we look forward to working with the Medius team to help drive our next phase of growth.”
The Medius and Wax Digital joint team consists of 350 employees across North America, UK, the Nordics, Benelux, Poland and Australia processing more than $100 bn through the platforms annually.