Finnish Nomentia announced it has acquired Austrian TIPCO:
Nomentia Oy has announced the acquisition of TIPCO Treasury & Technology GmbH, provider of the Treasury Information Platform TIP. This acquisition positions Nomentia to become a category leader within the international treasury and cash management cloud services space. In the Benelux Nomentia recently established a local office.
“Nomentia and TIPCO both share the same mission: to provide unparalleled cloud treasury and cash management solutions for and with our clients. In the last year, Nomentia has accelerated its market penetration across Europe, notably DACH, Benelux and adjacent markets. We believe that acquiring TIPCO Treasury & Technology enhances our ability to expand into new territories. In addition, this transaction aims to strengthen Nomentia’s solutions and product portfolio”, says Jukka Sallinen, CEO of Nomentia.
The need for optimal cloud-based cash management solutions is increasing as enterprises want to augment organizational flexibility, process scalability, and B2B payment security. “Organizations want to capitalize on digitalization to build better treasury processes, improve data quality and expand the flexibility of data analysis for better decision-making. In addition, we believe enterprises should focus on data integration, compliance, and security to achieve operational excellence”, adds Anna-Lisa Natchev, Chief Growth Officer of Nomentia.
TIP, as a proven platform, will aim to complement Nomentia’s core solutions of Cash Management. As the result of the merger of the products, customers will have access to one of the broadest treasury and cash management solutions on the market. The acquisition has the potential to strengthen Nomentia’s presence in Europe with a special focus on the German-speaking countries.
“We believe that integrating our solutions, IT skills, and unique treasury expertise with Nomentia is an exceptional opportunity to bring treasury and cash management innovation to the market. We trust that through this acquisition, clients will be able to future-proof their treasury technology roadmaps”, says Martin Winter of TIPCO Treasury & Technology.
With this acquisition, Nomentia employs close to 200 employees with locations in Finland, Austria, Germany, Netherlands, Sweden, and Poland. Nomentia’s nearly 2,000 customers in over 80 countries will now have access to high-level cash and treasury management solutions and experts.
Financial terms of the transaction were not disclosed. The transaction is subject to regulatory approval and is expected to be completed within the next weeks.