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Saturday, Dec 07th

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BlueSnap Acquires Armatic – A PayFac Edges Closer to Agile Billing

Mergers and AcquisitionsOn Monday, October 28, 2019 BlueSnap (MGI 360 Rated) announced the acquisition of Armatic, a start-up focused on invoice management and accounts receivables automation.
 
This is a smart addition to BlueSnap, and highlights the growing demand for AR automation tools.   
 
Financial details were not disclosed, but this is essentially an acqui-hire for BlueSnap.  Founded in 2016, Armatic has employees in Los Angeles, Austin, Texas and Kiev, Ukraine.  The two companies have experience working together as they had integrated their solutions at approximately twenty joint customers. Like BlueSnap, Armatic serves midmarket accounts with invoice management, a self-service portal, and integrates with the leading midmarket financials vendors like Sage Intacct, Oracle NetSuite, Salesforce, and Quickbooks. 
 
As BlueSnap places more focus on B2B customers, the acquired product will provide deeper payment integration, workflow, and some additional invoicing functionality.  More comprehensive reporting and analytics are an expected outcome of this combination.  This is a savvy deal for BlueSnap – it adds incremental capabilities and a focused team that is familiar with the BlueSnap platform and organization. 2019 has been another year of growth for BlueSnap.  The acquisition of Armatic confirms its focus on the needs of B2B customers and helps BlueSnap get closer to eventually reaching and surpassing its $100 million revenue goal.  
 
BOTTOM LINE
 
 
The acquisition of Armatic by BlueSnap is a net positive for current customers, and underscores the growing importance of AR automation and billing for Payment Facilitators. More M&A activity in this area is highly likely.
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