18 October 2023
We have advised leading accounting automation software company BlackLine on its acquisition of Data Interconnect, a pioneering provider of electronic invoicing software and global compliant invoicing based in the UK.
BlackLine’s AI-powered accounts receivable (AR) automation platform uses intelligent automation to help customers collect cash faster and unleash working capital. With this transaction, the company introduces e-Invoice Presentment and Payment (EIPP) capabilities, expanding its AR automation solutions portfolio.
This is the second UK transaction we have advised BlackLine on, having previously advised the company on its $150 million acquisition of UK-based AI-powered cloud platform Rimilia.
BlackLine provides solutions for financial close management, accounting automation, and intercompany governance, helping large enterprises and midsize companies across all industries do accounting work better, faster, and with more control.
Commenting on the transaction corporate partner Siobhán Langwade said: "It was great working once again with the team at BlackLine. The company is one of the leaders transforming the digital finance market and we were pleased to have provided the legal support to facilitate its commitment and delivery of greater functionality and value to customers. We look forward to supporting the company as it continues to innovate in this space.”
Karole Morgan-Prager, Chief Legal and Administrative Officer, added: "We’ve been delighted with the results Taylor Wessing provides as a trusted partner to BlackLine. They know what is important to us and it was an easy choice to turn to them again for this transaction. Their responsiveness and ability to deliver a full-service experience in a timely way is one of the reasons Taylor Wessing continues to be a firm of choice for BlackLine.”
The transaction was led by partner Siobhán Langwade with support from associates Emily Thomas, Loye Oyedotun and Abi Easton in the Corporate Technology and Life Sciences team.
Further support was provided by:
Banking and Finance
Partner Martin Yells
Employment, Mobility and Pensions
Partners Paul Callaghan and Anna Taylor and senior associates Millie Kempley and Afshan Mallik
Partner Emma Oakley
Tax and Incentives
Partner Graham Samuel Gibbon and associate Joe Fallon
Technology, IP and Information
Partner Sian Skelton, senior associate Mary Rendle and associate Laura Craig
by multiple authors