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Certify, a Portland company that develops expense management software, has been acquired by a California-based investment group.
K1 Investment Management, an investment firm focused on global software companies, purchased Certify and three other expense software companies for $125 million. The deal creates one company with more than 7,500 customers that use the specialized software to reduce overhead associated with managing employee time, travel and expenses.
The combined company is positioned just behind SAP Concur, the largest expense management software company, according to a release announcing the acquisition.
Read the Press Herald story here.