Avance advises Mercell, the leading European eTender system and Tender Alert provider, in the acquisition of 100% of the shares in Cloudia Oy, the leading e-Procurement platform in Finland, for EUR 102.5 million on a cash and debt free basis.
Cloudia was founded in 2008 and is headquartered in Helsinki. The Cloudia SaaS platform covers the entire procurement lifecycle with modules for sourcing, planning, contract and supplier management, meeting all the digital needs of the private and public sector.
The parties expect to complete the transaction during June 2021.