Stamford-based e-invoicing and purchase-to-pay solutions provider Basware has acquired Verian, a cloud-based service provider in the fast-growing purchase-to-pay market, for roughly $36 million, according to Basware.
Purchase-to-pay, also known as procure-to-pay or P2P, refers to the process when a business orders and purchases goods and services and the payment of an invoice.
Verian was founded in 1998 and is headquartered in the Charlotte, N.C., metro area.
“Verian is a strong fit with Basware’s strategy, cloud-focused business and culture,” said Basware Corp. CEO Esa Tihilä. “Jointly we will continue to enable our customers to buy and pay for goods and services in a simplified, paperless, and cost-efficient way.”