Software startup Personio takes over Berlin expense specialist Circula
Largest acquisition in company history: Personio combines human resources, payroll and expense management.
Quick Look
- The software startup Personio is taking over the Berlin expense specialist Circula in its largest acquisition to date.
- The aim is to bundle personnel, payroll and expense management for medium-sized companies.
AI-generated summary
Why It Matters
The software startup Personio has acquired the Berlin expense specialist Circula to combine human resources and expense management.
Frankfurt. The software startup Personio is taking over the Berlin expense specialist Circula. “There is a great need for software that combines the areas of human resources, payroll and expense management,” said Personio boss Hanno Renner in an interview with the Reuters news agency published on Tuesday.
This is the largest takeover in the company's history. “Circula is a more mature company with sales well into the double-digit million range.” However, he did not provide any further financial details.
Renner expects the acquisition to have positive effects on business development. “We have been profitable since the beginning of the year,” he emphasized. Circula consistently records cash inflows. He is confident that this will continue. Growth, which was in the double-digit percentage range last year, is expected to accelerate.
According to information, more than 3,000 mostly medium-sized companies use the Circula platform to process expenses, travel costs or billing of company credit cards. According to estimates, this market is currently worth almost $20 billion worldwide, which is expected to rise to almost $32 billion by 2030.
Open Questions
- How high is the purchase price of the takeover?
