Digital Vision Announces Acquisition by BasWare

18 September 2007

Document processing specialist Digital Vision is to be acquired by the financial automation software vendor BasWare, in a transaction worth EUR 9.2 million.
Digital Vision, based in Cheshire, will be merged with BasWare's Surrey-based UK subsidiary, giving a combined organisation of around 70 employees. The transaction will complete in October; both companies’ offices will be retained and no redundancies are expected.

The acquisition of Digital Vision will give BasWare a market-leading position in the enterprise purchase-to-pay, financial automation and document scan & capture solution sectors in the UK and Europe.

Bob Goodwin, director of Digital Vision said: “By combining our data capture and processing expertise with BasWare’s advanced automation technologies, we will be able to offer customers industry-leading solutions that will deliver compelling benefits across a wider range of applications. I am very excited at the market-leadership opportunity this transaction presents.”

Hannu Vaajoensuu, Chairman of the Board, BasWare Corp, said: "As a result of the acquisition, BasWare gains a leading position in the UK enterprise purchase-to-pay market, in terms of the number of customers, net sales and size of organisation. Additionally, we will gain valuable expertise on data capture and management. This improves our competitiveness especially in the financing segment and among multinational, large corporations.”

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