Irish software group Glantus acquires US company in deal valued at $5m

Deal will improve automation for credit recovery service

Glantus, founded in 2014, provides specialist solutions to the education, retail, construction and financial services sectors. Photograph: iStock

Glantus, founded in 2014, provides specialist solutions to the education, retail, construction and financial services sectors. Photograph: iStock

 

Irish analytics software company Glantus has continued on its acquisitive streak, buying California-headquartered JPD Financial to further automate credit recovery solutions offered to businesses.

The acquisition, valued at $5 million (€4.6 million), creates a business which now has revenues of about $12 million, Glantus said, adding that JPD is a “trusted partner” to Fortune 1,000 companies. Prior to the JPD acquisition, Glantus had turnover of about $5 million, the company told The Irish Times.

Glantus, founded in 2014, provides specialist solutions to the education, retail, construction and financial services sectors. The Dublin-headquartered company has offices in London and New York and has been expanding over the past few years.

Last year it acquired UK business intelligence group Dynistics for £1.75 million (€1.6 million) while in 2018 it acquired New York based data analytics company Hedgehog Analytics for an undisclosed sum.

Glantus’s clients include blue-chip companies such as AIG, Hertz, Europcar, Barclays, and Paddy Power owner Flutter Entertainment.

“This acquisition significantly deepens our ability to serve global organisations at scale,” said Maurice Healy, founder of Glantus.

JPD, which has a European service centre in the UK, has established relationships with more than one million vendors in 115 countries since its foundation in 1984.