Nov 24 2021
PRESS RELEASE: Glantus acquires Meridian Cost Benefit Ltd.
Glantus Holdings Plc increases its EMEA share of AP recovery market through acquisition of Meridian Cost Benefit Ltd.
Dublin, November 24, 2021 – Glantus Holdings Plc, the provider of Accounts Payable automation and analytics solutions, has acquired the UK based Meridian Cost Benefit Ltd. This represents another strong step forward in the Company’s May ’21 IPO growth strategy and delivers an expansion of the Glantus brand across EMEA.
The acquisition of Meridian, a provider of accounts payable and specialist recovery audits in the telecom and utility sector will add an additional forty-four customers to the Glantus portfolio, many at enterprise level with over 60% of retained revenue from the public sector. This move will propel Glantus into the lucrative UK government and semi-state market with products such as procurement to payment, statement reconciliation, and data optimization.
We are really delighted to have the Meridian team join Glantus. We value the wealth of experience their people bring to Glantus EMEA and very much look forward to welcoming them into the Glantus family. With the acquisitions of JPD and TIC, we have been consolidating the accounts payable market in the U.S. and EMEA for some time, the acquisition of Meridian signals our intention to continue this strategy in EMEA.- Karl Andersson, SVP Acquisitions and Development, Glantus
In today’s market we recognize that customers are increasingly looking at automation and AI to drive further efficiencies in their financial processes. We are very excited to be joining Glantus as we now have the advanced technology platform and the team behind us to deliver additional services to our valued and loyal customer base. - Peter Welch, Founder and MD of Meridian Cost Benefit