Friday, January 28, 2022

BlackLine Acquires FourQ Systems

Los Angeles-based accounting automation software developer BlackLine said on Thursday that it has acquired FourQ Systems, a developer of financial management software. According to BlackLine, it paid $165M at close, plus earnout of over $75M over the next three years subject to certain financial performance milestones. BlackLine said the deal will help it enhance its existing intercompany accounting automation capabilities. FourQ's software helps streamline global operations of its customers, particularly managing the accounting of separate, legal entities which belong to the same, corporate group--something which is commonly used by multinational companies.