Employee expense platform Chrome River is merging with rival Certify in a deal valued around $1 billion. The companies said the merger will allow both businesses to ramp up investments in technology in areas such as machine learning, AI, analytics and reporting.
Certify is a provider of travel, expense and invoice management software, and the parent company for SaaS platforms Nexonia, Tallie, Abacus, and Captio. Its customers across brands include LogMeIn, Mailchimp, McDonald's, Pinterest, Red Bull, Shopify, Subway, and SurveyMonkey.
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In the short term, Chrome River and Certify will operate independently with separate management teams and the companies will continue to support all existing products. Over time, Certify will fold Chrome River into its family of brands for a more tailored go-to-market strategy targeting large enterprises, mid-market and SMBs.
"Unlike the traditional 'one size fits all' approach, this multi-brand strategy enables companies of all sizes and verticals to work with a single vendor, yet craft the solution that is best suited to their specific business needs," the companies said in a press release.
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