Sidetrade (Euronext Growth: ALBFR.PA), - publisher of an AI powered platform, dedicated to the management of the Order-to-Cash (O2C) cycle - has announced today conclusion of a firm acquisition agreement covering 100% of the capital and the voting rights of Amalto, one of the main players in the dematerialisation of inter-company financial transactions in North America, for an amount of $16m.
With this deal, Sidetrade enriches its O2C offering, and accelerates its penetration of the North American market.
Sidetrade’s offer is at $16m in cash for 100% of Amalto’s equity. In addition, the directors could receive an earn-out at the end of 2024 depending on the growth of Amalto's revenues at that date. Two months after the launch of its Fusion 100 plan aiming for revenue of $100m by 2025, acquiring Amalto allows Sidetrade to reach an important milestone in the execution of its plan with a cumulative revenue that could approach $43m in 2021, including $7m in North America.
Sidetrade plans to finance the operation through bank debt in order to preserve cash for other possible acquisitions. The current cash position is €24m ($28.6m), including treasury stock.