Palette Software acquires cloud company Centsoft

Palette Software, a Stockholm, Sweden-based market-leading vendor for financial process automation, announced the acquisition of software-as-a-service (SaaS) invoice automation specialist Centsoft, also based in Stockholm.

Under the terms of the acquisition, which has the financial details undisclosed, Centsoft will continue to develop as a separate company within Palette Software, while coordinating core functions from headquarters in Stockholm.

Centsoft’s main products will be made available via Palette’s local companies in Denmark, Norway, Finland, UK and the US, and through Palette’s international channel partners in Europe, Australia, and the US.

Together, Palette Software and Centsoft will continue to grow and plan to hire 20 new employees in 2018, within product development, application consulting and marketing. With its newly launched cloud solution PaletteOnline and the acquisition of Centsoft, Palette can now offer complete, modern and easy to use solutions that automate financial processes for small to large-sized businesses.