Under the terms of the acquisition Centsoft will continue to develop as a separate company within Palette Software, while coordinating core functions from headquarters in Stockholm.

”With Centsoft, we will be able to strengthen our offering within purchase to pay process automation. The SaaS service provided by Centsoft is well established among small and medium-sized businesses, as it is both easy to use and quickly and easily automates the flow of incoming invoices”, says Johan Harrysson, CEO at Palette Software.

”My colleagues and I look forward to developing Centsoft further together with Palette and to continuing our Nordic journey, while at the same time being able to take our offering to new markets. We will now invest even more in product development for the benefit of all of our customers”, says Christoffer Hartung, CEO at Centsoft.

Centsoft’s main products will be made available via Palette’s local companies in Denmark, Norway, Finland, UK and the US, and through Palette’s international channel partners in Europe, Australia, and the US.

Together, Palette Software and Centsoft will continue to grow and plan to hire 20 new employees in 2018, within product development, application consulting and marketing. With its newly launched cloud solution PaletteOnline and the acquisition of Centsoft, Palette can now offer complete, modern and easy to use solutions that automate financial processes for small to large-sized businesses.