Marlin Equity Partners buys Medius from Novax.

Medius AB, a Stockholm, Sweden-based provider of cloud-based AP invoice automation, has announced that it has signed a definitive agreement to be acquired by Marlin Equity Partners, a London, UK-based global investment firm with over $6.7 billion of capital under management, from Novax, InnovationsKapital and minority shareholders.

The financial details of the transaction remain undisclosed. The acquisition will enable Medius to accelerate its ongoing global expansion and continue investing in its cloud-based solutions for accounts payable automation.

Medius, founded in 2001 by Per Nordling and led by CEO Per Åkerberg, has developed a cloud solution for accounts payable automation. The company serves more than 2,000 customers worldwide processing 52 million invoices annually, with 220 employees working out of offices in Sweden (HQ), the United States, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia.

The completion of the transaction is subject to customary closing conditions and is expected in the third quarter of 2017.