Oventis, a source-to-pay procurement suite provider, has acquired Spendency, a Swedish spend analytics specialist. The purchase was backed by Main Capital Partners.

The two firms each share a common vision of growth with the goal of becoming a leading European software group through the transformation of purchasing and finance in a single digital spend management ecosystem.

Spendency connects directly to clients’ ERP and helps its clients collect, enrich and normalize supplier data. The firm additionally analyzes the data and provides insights for improved cost controlling of spend processes.

“I am proud to announce the next growth step of the Onventis Group,” added Frank Schmidt, CEO of Oventis. “The Swedish spend analytics specialist Spendency becomes a full part of the Onventis Group and with the acquisition of Spendency we are expanding our Source-to-Pay portfolio with high class market leading spend analytics technology…Together we are on a mission to transform purchasing and finance holistically through a single digital spend management ecosystem.”