BlackLine has acquired Runbook, a Europe-based provider of financial close and automation solutions for the SAP market.
According to BlackLine, the acquisition will extend its Continuous Accounting platform with the complementary Runbook solutions to enable greater automation, by merging financial quality assurance with financial automation.
The acquisition will also support the company’s ongoing European expansion strategy.
“Runbook is an important investment in our future, an alignment that makes BlackLine stronger on behalf of our respective customers,” said Therese Tucker, BlackLine CEO.
“Runbook’s financial close automation software solutions serve some of the largest SAP organisations in the world. The company brings a wealth of talent, technology and SAP integration and executive knowledge to BlackLine, broadening our Continuing Accounting platform by adding complementary technologies. Together, we are equipped to solve the financial close management challenges faced by CFOs around the world.”
Tucker said the move is part of a larger plant to deliver deeper automation across the full range of F&A processes and enterprise platforms, including more than 40 leading ERP systems.
A Silver SAP Partner, Runbook works with some big-name SAP customers, including Philips, Novartis, Siemens, Roche, Adidas and P&G.
Runbook co-founders Herman Heller and Rob Leesburg will become members of the BlackLine management team, and said they are excited to join forces.
“By uniting our SAP expertise with BlackLine’s cloud knowledge, we believe we are a much stronger company going forward,” said Heller, Runbook’s CEO.