Vancouver, Oct. 08, 2018 (GLOBE NEWSWIRE) -- Corum Group, the leading M&A advisory firm for software and related technology companies, today announces that its client, Powervision Software, has been acquired by Cortex Business Solutions. Powervision is a privately-owned corporation specializing in the development of electronic document management and workflow management software.
“Corum Group did a great job throughout the entire transaction process,” said Powervision President and CEO Jean-Paul de Poyen “We could not have gotten it across the finish line without them.”
Powervision has been a pioneer and a leader in the provision of such solutions in the Canadian energy industry since its inception in 1992, and today its client base crosses multiple verticals of business from finance to oil and gas. Powervision’s acclaimed AP Workflow product is used daily by hundreds of users.
Cortex Business Solutions is a provider of network-as-a-service e-invoicing solutions to over 11,000 customers in the oil & gas, mining, manufacturing and sports & entertainment industries. The deal will add Powervision’s solutions to Cortex's e-invoicing-as-a-service technology.
“Cortex and Powervision are a strong team,” said David Levine, Corum Group Senior Vice President, who led the deal. “They have been partners for years, with many mutual customers, and the combination into a single company puts both the company and their customers into a very strong position going forward.”
“We are thrilled to combine the highly synergetic Cortex e-invoicing-as-a-service with the expanded workflow and document management solutions offering of Powervision allowing Cortex to be more competitive,” said Jason Baird, VP, Finance & CFO of Cortex.
About Corum Group
Corum Group is the global leader in merger and acquisition services, specializing in serving sellers of software and Internet companies worldwide. With offices globally, Corum has completed over US $7 billion in software M&A transactions over the last 30 years, spanning six continents. Corum also educates the industry with its popular conferences and publishes the most widely distributed software M&A research. Corum's M&A advisors are highly experienced former tech CEOs, who are supported by the industry's leading researchers, writers and valuators. Corum also does much to educate the industry with its conferences and webinars and the industry's most widely distributed software and IT M&A research. For more information, visit www.corumgroup.com.
About Powervision Software
Powervision Software Inc. is a privately owned Corporation devoted to developing comprehensive, world-class electronic document management software with unparalleled ease of use. Its client base crosses multiple lines of business from finance to oil and gas throughout North America. Powervision's customers use its EDM solutions to capture, manage and efficiently use the vital corporate knowledge contained in their documents.
About Cortex
Cortex’s strategy is to revolutionize B2B document exchange by replacing traditional paper-based manual systems with efficient, automated solutions. This positions companies with the scalability and flexibility needed to meet the demands of today’s business. Cortex offers a B2B network that enables electronic invoicing for buying and supplying organizations using flexible connection methods to leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses. Cortex is currently delivering e-invoicing services to over 11,000 Trading Partners in Oil & Gas, Mining, Manufacturing and Sports & Entertainment industries.