British private equity firm Bridgepoint Group is reportedly considering a takeover bid for French software provider Esker.
Bridgepoint Group has been working on a potential offer, though its deliberations are ongoing and may not result in a transaction, Bloomberg reported Friday (Aug. 9), citing unnamed sources.
Esker issued a press release Monday (Aug. 12) confirming that it is holding ongoing discussions about a potential offer with Bridgepoint.
It said there is no certainty that the discussions will lead to an agreement and added Esker will keep the public informed about “any significant developments.”
“As part of its ongoing strategic process, the company regularly evaluates its options,” Esker said in the release. “These options include seeking new strategic shareholders but also continuing its impressive journey as a publicly listed company.”
Reached by PYMNTS Friday, Bridgepoint Group declined to comment on the Bloomberg report.
Esker was founded in 1985, went public in 1997 and currently operates in Europe, Asia, North America and Latin America, offering software that helps companies manage finance and procurement, according to the report.
The company’s shares have risen 35% over the past year, increasing its market value to about 1.2 billion euros ($1.3 billion), the report said.
In July, Esker expanded its Source-to-Pay (S2P) platform to include new environmental, social and governance (ESG)-focused features designed to help CFOs manage evolving regulatory frameworks, mitigate risk and enhance visibility, reporting and collaboration.
In June, the firm teamed up with EY Services France to help companies manage the emergence of disruptive technologies and regulatory changes. The collaboration brings together Esker’s process automation solutions and EY Services France’s financial audit and consulting capabilities.
In another partnership, Esker said in September that it began collaborating with Boost Payment Solutions to fully automate virtual card processing for accounts receivable departments.
Commercial payments help define the end-to-end experience a business can provide its customers, Ari Widlansky, managing director and U.S. chief operating officer at Esker, told PYMNTS in an interview posted in June.
“Helping our customers move to a more automated payment transaction and provide their customers with a frictionless process is the biggest benefit,” Widlansky said. “By improving the transaction experience, it makes that customer stickier.”
Bridgepoint Group has 43 billion euros (about $47 billion) of assets under management; operates in Europe, North America and Asia; and invests across the advanced industrials, business and financial services, consumer and healthcare verticals, according to its website.
On Tuesday (Aug. 6), the private equity firm sold its investment in Swedish food and beverage firm Vitamin Well after that business grew its revenue twelvefold since Bridgepoint partnered with it in 2016, according to a press release.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More