Certify swoops on Captio to further grow expense management ambitions
As Certify’s first acquisition outside the U.S, Captio already works with about 250 customers across Europe
Certify is continuing its spending spree with the acquisition of Spain-based expense management specialist Captio.
U.S-based Certify was acquired by K1 Investment Management just over a year ago and merged with Nexonia and ExpenseWatch and Tallie in a deal worth more than $125 million.
At the time the combined entity said it was looking to take on Concur and there was money on the table for further acquisitions.
Certify president and chief executive Bob Neveu doesn’t believe the one size fits all strategy is best for everyone with some customers looking for expense management solutions specific to their industry or that fits in with their existing accounting software.
“What we hear is that customers are not getting the software they need or there is overkill with way too much functionality.
He sees plenty of opportunity for further growth in different geographies and/or expense management specialists that appeal to a different customer size.
He adds that the Captio acquisition, Certify’s first outside the U.S., makes sense because the company already works with about 250 customers across Europe with further growth in the region on the cards.
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