Two global leaders in invoice processing will combine expertise, product and customer base
LONDON, Aug. 14, 2023 /PRNewswire/ — Genesis Bidco Limited, a wholly-owned subsidiary of Basware, a leader in making AP automation and invoice processing happen, today announced its firm intention to make an offer to purchase the entire share capital of Glantus Holdings PLC (LSE: GLAN). The Glantus Board unanimously recommends the offer.
Combining market-leading AP automation from Basware and specialist audit recovery and fraud prevention software from Glantus means customers will obtain complete coverage through the entire invoice processing and capital management lifecycle. Glantus’ solution will be plugged into Basware’s offering, bringing deeper expertise, an end-to-end data-driven view and speed to value savings for customers.
Basware enables finance and accounting teams in global enterprises to achieve efficiency through its invoice processing and AP automation platform. Through its 1,300 strong workforce, Basware automates more than 170 million invoices for thousands of customers globally every year. Basware is backed by Accel-KKR, a leading software private equity firm.
Glantus helps scaling companies generate capital by streamlining their financial processes, correcting anomalies, consolidating their data and providing real time reconciliation reports. Through its Datashark AP platform, it specialises in capital recovery from payment errors and identifying invoice fraud. Glantus went through an IPO on the AIM market of the London Stock Exchange in May 2021.
Jason Kurtz, CEO, Basware, commented on the acquisition:
“Having communicated with the leadership team at Glantus recently, I’ve been thoroughly impressed by their dedication to revolutionise invoice automation for the office of the CFO – a vision behind which we both unite. Both our companies target similar customer segments – and we will be able to share our strengths with Glantus, as well as learn from theirs. Glantus is an exceptional fit with our investment strategy in terms of size, focus and business model. Our proposed acquisition of Glantus will further expand our product suite and we believe add value to customers in an accelerated time.”
Maurice Healy, Founder and CEO, Glantus Holdings PLC, added:
“This offer represents the biggest opportunity in Glantus’ 10-year history. We are immensely excited at the prospect of joining a leader in invoice automation in Basware. The synergy between our companies and our customer markets mean that we will be a natural fit. We are looking forward to working with Basware and the opportunity to combine the product offering as a result of the proposed transaction.”
Following a successful acquisition and delisting, all parties intend to work together to develop Glantus in the private domain.
Subject to obtaining all necessary approvals, the transaction is expected to be finalised in Q4 2023. For more information, the announcement issued under Rule 2.7 of the Irish Takeover Rules on 14 August 2023 is available on Glantus’ website at www.glantus.com and Basware’s website at www.basware.com.
Statement Required by the Irish Takeover Rules
The Genesis Bidco Limited directors and the Basware directors accept responsibility for the information contained in this communication other than that relating to Glantus, and for the statements made by Glantus in respect of Basware. To the best of the knowledge and belief of the Genesis Bidco Limited directors and the Basware directors (who, in each case, have taken all reasonable care to ensure such is the case), the information contained in this communication for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
The Glantus directors accept responsibility for the information contained in this communication relating to Glantus, except for the statements made by Basware in respect of Glantus. To the best of the knowledge and belief of the Glantus directors (who, in each case, have taken all reasonable care to ensure such is the case), the information contained in this communication for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
No Profit Forecast / Asset Valuations
No statement in this press release constitutes a profit forecast for any period, nor should any statement be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for Genesis Bidco Limited, Basware or Glantus as appropriate. No statement in this press release constitutes an asset valuation.
This press release contains certain forward-looking statements with respect to a proposed transaction involving Genesis Bidco Limited, Basware and Glantus, and following the acquisition, if completed, the combined group. The words “believe,” “expect,” “anticipate,” “project”, “intend” and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Any forward-looking statements in this communication are based upon information available to Genesis Bidco Limited, Basware, Glantus and/or their respective boards of directors, as the case may be, as of the date of this communication and, while believed to be true when made, may ultimately prove to be incorrect. No obligation is undertaken to update these forward-looking statements.
Publication on a Website
In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this press release will be available on Glantus’ website at www.glantus.com and Basware’s website at www.basware.com by no later than 12 noon (London time) on 14 August 2023. The content of the websites referred to in this press release is not incorporated into and does not form part of this press release.
Global Head of PR & Communications
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at thousands of companies rely on Basware to handle over 170 million invoices per year. Basware. Now it all just happens.™
Glantus is a global provider of accounts payable automation and analytics solutions. The Glantus mission is to simplify data to drive constant innovation. The award-winning Glantus Datashark Platform is rapidly deployed around existing transactional systems to provide a single platform for Accounts Payable transformation. The automation solutions recover lost working capital, improve efficiency, and prevent errors. The advanced analytics empower customers to make decisions based on real-time data. We connect all AP systems and suppliers, eliminating cost and delivering new revenue streams. Glantus champions the amazing potential of the AP industry by freeing up its leaders, its best thinkers, and its doers to realise new value. We work in tandem with our partners, to deliver joint enterprise digital transformation solutions. For more information see glantus.com.
Friend.Tech and Base Anti-Phishing Boosted By CoolWallet’s Web3 SmartScan
TAIPEI, Oct. 2, 2023 /PRNewswire/ — Base’s new killer DApp, the decentralized social network Friend.tech, is breaking transaction records with record adoption, but is being targeted by hackers and scammers through phishing attacks.To raise awareness of the importance of hardware wallet protection and promote its powerful Web3 SmartScan transaction screener, CoolWallet has launched a Web3 Guardian competition.
Coinbase’s new Ethereum layer-2 chain, Base, has become a favorite for DApp developers and early investors due to its outstanding performance and the innovative projects it attracts. One DApp in particular, the decentralized social media platform Friend.tech, has driven the bulk of its growth in recent weeks. helping Base repeatedly reach new transaction volume highs despite difficult market conditions.
Friend.tech’s rapid rise has garnered widespread attention- according to the latest data, the daily active user (DAU) count of friend.tech have surpassed the million mark, with its transaction volume consistently hitting new records and its total value locked (TVL) now surpassing $35 million.
However, with any crypto trends comes new security risks, in this case a familiar foe, phishing attacks. This type of social engineering attacks dominate crypto thefts, which by June 2023 had already hit the $650 million mark across the Web3 sector. This month alone has already seen successful attacks targeting high-profile victims Mark Cuban and Vitalik Buterin and stealing millions in the process.
As a result, Base and Friend.tech users are urged to use a reputable hardware wallet to secure their tech digital assets by protecting their private keys and screening transactions.
In response, hardware wallet maker CoolWallet, which natively supports the Base ecosystem, has launched an anti-phishing campaign titled Web3 Guardian Competition to create awareness and promote its unique defense capabilities such as CoolWallet SmartScan, which proactively screens all Web3 transactions and flags malicious behavior or smart contract vulnerabilities before users are exploited.
How Friend.tech works
Friend.tech has garnered a cult following among crypto enthusiasts as one of the first decentralized social networks to be built on the Base blockchain. It’s powered by blockchain and smart contracts, where users must buy “shares” of another person in order to chat with them. Its tagline is “Your network is your net worth”.
To use Friend.tech, users must first sign up with their Twitter (X) account, create a profile and then start trading shares of other users who have also signed up. A user’s share price is determined by factors like their popularity, reputation, and overall demand.
Buying shares of another user gives you access to them, allowing you to message them directly and chat. The more shares you buy, the higher a priority your messages will be.
Friend.tech recommends hardware wallet protection
With crypto phishing attacks claiming even high-profile victims such as Vitalik Buterin and Mark Cuban as victims in recent weeks, it’s no surprise that Friend.tech also places great emphasis on asset security.
It therefore recommends that users utilize a hardware wallet for enhanced protection against threats like phishing sites. Storing assets offline makes them less accessible to online hackers, thus offering greater security.
CoolWallet’s SmartScan Flags Web3 Phishing Threats
CoolWallet (established in 2014) has since the launch of its CoolWallet Pro flagship model in 2021 pivoted strongly to securing Web3 assets, which requires users to interact with DeFi protocols that could potentially drain their accounts if they authorize the wrong transaction.
CoolWallet Pro in particular makes for an ideal Friend.tech hardware wallet as it’s one of the first cold wallets to support the Base network, and boasts several elite security features, such as:
- an EAL6+ secure element
- biometric verification (both on phone and device)
- tamper proof and waterproof design
Importantly, its CoolWallet App comes with real-time Web3 transaction analysis scanning called Web3 SmartScan.
While cold storage is as safe as can be, the biggest vulnerability remains human error or a lapse in judgment, where the user is tricked into authorizing a bad transaction or revealing their recovery seed or private key to a bad actor.
CoolWallet’s SmartScan, available on its CoolWallet App, provides Web3-native protection against phishing attempts. It automatically screens transactions and flags attempted phishing, suspicious transactions and smart contract vulnerabilities. This makes using cold storage even safer to use, and elevates CoolWallet above other hardware wallet brands.
Web3 Guardian Competition- Secure Your Crypto for the Next Bull Run!
To promote Web3 asset protection among blockchain users and help them safeguard their crypto portfolio with SmartScan until the next bull run, CoolWallet is launching a global new competition aimed at enhancing user security awareness with generous rewards to participating users.
Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users on chain.
Friend.tech is an emerging DApp focused on social interactions and cryptographic asset management. It provides users with a secure and efficient blockchain platform. The platform currently operates on the Base chain and is continuously expanding its features and user base.
CoolWallet is a pioneering Web3 hardware wallet brand established in 2014 by CoolBitX that offers users the comfort of convenient and fully portable cold storage of all digital assets, including DeFi and NFT crypto assets.
CoolWallet Pro is a flagship Web3 hardware wallet that boasts a wafer-thin smart card form factor, an EAL6+ secure element, military-grade Bluetooth encryption, and a tamper proof and water-resistant exterior, while its custom CoolWallet App offers users a choice of DeFi marketplaces, DApp support and real-time transaction screening.
CONTACT: Domo Zhuang, [email protected]
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
- Friend.Tech and Base Anti-Phishing Boosted By CoolWallet’s Web3 SmartScan
- Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
- ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
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