Allensburg/Germany, Heidelberg/Germany. xSuite Group, a leading global software provider in the Accounts Payable Invoice Automation (APIA) field, has acquired tangro, a specialist in inbound document management software based in Heidelberg, Germany. The acquisition is yet to be approved by the supervisory authority.
The acquisition marks an important milestone for the strategic development of both companies, as their joint position as a leading provider of business process automation focused on the SAP ecosystem will be strengthened. The acquisition enables xSuite to expand its offering in the order-to-cash space and enhance its expertise in procure-to-pay processes. This will provide both companies’ global customer base with a stronger product portfolio going forward.
Furthermore, the transaction is closely aligned with consistent future directions within the SAP environment. Together, xSuite and tangro offer state-of-the-art solutions that are seamlessly integrated into the SAP environment and thus decisively drive the digital transformation of business processes. This is especially evident in the Clean Core strategy in the context of S/4HANA Cloud and Business Technology Platform (BTP).
The new partnership creates a strong strategic position for the xSuite Group in southern Germany, where tangro employees will contribute their high-tech expertise. Customer and partner support in the region will be further improved as a result. In addition, the innovative strengths of the two companies will be bundled, which will make an important contribution to the strategic development of xSuite Group.
“The acquisition of xSuite Group brings huge opportunities for tangro and our customers,” said Patrick Etter, managing director of tangro, who will take over overall management from existing founder and majority shareholder Andreas Schumann. “We believe that by partnering with xSuite, we can achieve our shared strategic goals faster and provide customers with greater value in business process automation,” continued Patrick Etter.
Matthias Lemenkühler, CEO of xSuite Group, added: “The acquisition of tangro is an important step for xSuite Group to strategically expand our solution offering and further strengthen our position as a leading provider in digital business process management.” “We look forward to working with the tangro team. , shaping the future of the SAP environment through powerful innovation. This collaboration is a clear milestone in the success-driven ambition and commitment of both companies to optimally align their product portfolios with needs and requirements.
