Elmo Software Limited (ASX:ELO), an Australian cloud-based HR & Payroll provider, acquired Webexpenses, an Oxford, UK-based expense software provider.
The amount of the deal was not disclosed.
The acquisition provides Almo with complementary technology and an established customer base to help accelerate their expansion into UK mid-market businesses.
Webexpenses is a global provider of cloud-based financial management software. The company’s flagship expense management solution automates the process, creating a seamless workflow. Webexpenses has offices in the United Kingdom, the United States, and Australia.
Owner and Chairman, Michael Richards, will continue on as a strategic advisor to the UK business and CEO Adam Reynolds will continue on in his current role.
Established in 2002, Almo offers customers a unified platform to streamline processes for HR, and also manage payroll and rostering/time and attendance. It operates on a Software as a Service (SaaS) business model based on recurrent subscription revenues.