Establishes market leader in financial supply
chain automation for the Oil and Gas vertical
GREENWICH, Connecticut,
June 29, 2015 /PRNewswire/
-- Mooreland Partners (www.moorelandpartners.com), the leading
independent investment bank providing M&A and private capital
advisory services to the global technology industry, today
announced that it acted as the exclusive financial advisor to
Automatic Data Processing, Inc. (NASDAQ: ADP)
http://www.kallidus.com/ on the sale of its ADP Procure-to-Pay
("P2P") business to Oildex, a portfolio company of Accel-KKR. The
transaction solidifies Mooreland Partners' position among the most
active advisors in Enterprise Software.
ADP P2P offers a robust, cloud-based accounts payable automation
platform, OpenInvoiceâ„¢, which combines advanced electronic
invoicing, price compliance, and spend visibility solutions with a
network of more than 45,000 suppliers serving the O&G industry.
The highly secure transaction network connects some of the world's
largest buyers and suppliers of all sizes, from regionals to
nationals and multi-national corporations. Oildex provides a
broad business-to-business ("B2B") automation offering for O&G
companies including invoice processing, owner relations web
portals, royalty check stub detail and reporting, joint interest
bill processing, crude oil data exchange, production and sales
reporting, and more.
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"With this highly strategic transaction, Accel-KKR's Oildex
combines forces with ADP's P2P business to offer the Oil & Gas
industry a comprehensive financial supply chain automation suite,"
said Scot Sedlacek, Managing
Director, Mooreland Partners.
The merged company creates a market leader in accounts payable
("AP") and B2B automation solutions within the broader financial
supply chain automation sector, with over 1,100 customers, a
network of more than 50,000 suppliers, and key operation centers in
the United States and Canada. The combined company supports a
product portfolio that is uniquely positioned to meet the advancing
needs of businesses in multifaceted industries, including O&G
operators, suppliers and service providers, who need to manage
complex financial supply chains.
ABOUT MOORELAND PARTNERS
Founded in 2002, Mooreland Partners is a leading independent
investment bank providing M&A and private capital advisory
services to the global technology industry, serving clients from
its offices in Silicon Valley, Greenwich (CT), and London. Mooreland's team of almost 50 banking
professionals delivers industry domain and transaction expertise
across all major technology sectors including communications
technology, mobile and digital media, enterprise software and
services, as well as industrial technology and electronics. Follow
us on Twitter or learn more at www.moorelandpartners.com.
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CONTACTS
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Mindy M.
Hull
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Kayla
Egbert
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Mercury Global
Partners for
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Mercury Global
Partners for
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Mooreland
Partners
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Mooreland
Partners
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Tel. +1-415-889-9977
(U.S.A.)
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Tel. +1-407-529-6937
(U.S.A.)
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