Sidetrade acquires Amalto for $16 million to expand North American presence

Software vendor Sidetrade has signed a definitive agreement to acquire all of Amalto, a company specializing in the dematerialization of B2B financial transactions in North America, for $16 million in cash. This acquisition aims to enrich Sidetrade's Order-to-Cash (O2C) cycle management platform and accelerate its expansion in the North American market.

The transaction is a significant step in Sidetrade's Fusion100 strategic plan, which targets reaching $100 million in revenue by 2025. With Amalto integrated, the company anticipates its cumulative revenue could approach $43 million in 2021, with nearly $7 million generated from North America.

Sidetrade will finance the acquisition through bank debt, preserving its cash reserves for potential future acquisitions. At the time of the agreement, Sidetrade held approximately $28.6 million in cash. The company expects its North American revenue share to rise to nearly 20% of its total income as early as this year.

Amalto's expertise in electronic invoicing, particularly in North America, aligns with Sidetrade's existing O2C solutions. The combined capabilities are intended to help clients navigate evolving e-invoicing regulations, which are becoming mandatory in various global markets. Amalto's Houston offices will serve as Sidetrade's new U.S. headquarters.