TeamSystem, a Pesaro, Italy-based provider of software for professionals, acquired a majority stake in Fatture in Cloud, a Bergamo, Italy-based bootstrapped startup that provides SMEs with cloud based invoice software.
The amount of the transaction was not disclosed. It is known that TeamSystem, via Danea Soft, acquired a 51% stake in the company in order to add a cloud and mobile solutions to its range of products.
Launched in 2014 by Daniele Ratti, Fatture in Cloud allows frelancers and small businesses to manage their invoices and accounting issues from any device (tablet, smartphone, desktop) on any tech platform. The platform, which features tools for purchase management, electronic invoicing, mail delivery and tracking, transportation and tax docs, has over 40,000 users.
Following the transaction, Ratti will remain CEO of the company with plans to continue to expand operations.
Led by Federico Leproux, AD of TeamSystem, TeamSystem is a provider of software for companies, accountants, labor consultants, law professionals, condominium managers, etc. to mange their operations. The group, which has expected revenues of approx. €260m in 2015, employs about 1.800 people, and has approx. 185,000 clients in Italy.