BlueSnap, a payments technology provider based in Waltham, Mass., has acquired Armatic, an accounts receivable and invoicing automation vendor. BlueSnap said the move means it will be able to provide B2B companies “an efficient quote-to-payment solution aimed at increasing sales and reducing costs.”
“The global B2B payment processing market represents $127 trillion in volume, with $26 trillion in the US alone, and has not fully modernized, still relies predominantly on paper invoices and checks,” BluesSnap said in a release on the acquisition. “B2B companies are also becoming increasingly global, providing digital-first borderless products and services, which further compounds their invoicing and payment challenges.”
The terms of the acquisition were not disclosed.