GREENWICH,
Conn., 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, OpenInvoice™, 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.
"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.
All trademarks contained herein are the
property of the respective owners.
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Mooreland
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Mooreland
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Tel. +1 415 889 9977
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