Certify’s $1 Billion Merger with Chrome River Technologies

Kirkland & Ellis represented Certify on the deal

Certify and Chrome River Technologies, two global leaders in travel, expense, and invoice management software, are merging in a transaction valued at over $1 billion. The combination creates the industry’s most comprehensive suite of products for monitoring, managing and analyzing corporate spend. K1 Investment Management will hold a majority stake in the combined organization, while existing shareholders, including the companies’ founders and Bain Capital Ventures, a private investment firm based in Boston, will retain a minority interest.

Initially, Certify and Chrome River will operate independently, with separate management teams focused on support for their existing products. The companies will support all existing products and collaborate on accelerating investments in technology areas such as machine learning, artificial intelligence, analytics and reporting, to provide customers with enhanced travel, expense, and invoice management capabilities.

With this merger, Certify and Chrome River will have more than 11,000 combined customers across 100+ countries, and solutions available in more than 60 languages. The companies offer best-in-class integrations to all leading ERP systems, including those offered by SAP, Oracle, NetSuite, Sage Intacct, Microsoft Dynamics, PeopleSoft, JD Edwards and QuickBooks.

The Kirkland team was led by transactional partners Adam Philips (Picture) and Lilit Voskanyan, debt finance partner Brian Ford, tax partners Karen Lee and Devin Heckman, and technology & IP transactions partner Seth Traxler.

Involved fees earner: Brian Ford – Kirkland & Ellis; Devin Heckman – Kirkland & Ellis; Karen Lee – Kirkland & Ellis; Adam Phillips – Kirkland & Ellis; Seth Traxler – Kirkland & Ellis; Lilit Voskanyan – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Certify Inc.;

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Author: Ambrogio Visconti