Increased focus into AP automation efficiency and cross-border payment functionality stands out this week in M&A activity with new deal announcements. To kick things off, the AP automation provider, Medius, announced their acquisition of OnPay Solutions for an undisclosed sum. OnPay Solutions specializes in B2B invoice management and processing with a vendor network of more than 350,000. This acquisition to acquire OnPay compliments Medius’s existing product suite and will allow the company to integrate payment processing directly into their source-to-pay platform. Additionally, this deal expands Medius’s presence within the United States as the company also seeks to open their first US-based office alongside OnPay’s headquarters in Florida.
In other M&A news, Papaya Global announced their agreement to acquire the cross-border payment service provider Azimo for an undisclosed sum. As this deal closes, Papaya will be able to accelerate their payroll management capabilities as their clients can streamline the onboarding to payment processes for their remote workforce. With Azimo’s cross-border platform, Papaya can further enhance their product suite to cater towards businesses with workforces that span across geographic locations.