Accounting automation resolution supplier BlackLine Inc. has acquired FourQ Techniques Inc., a developer of intercompany monetary administration expertise, efficient Jan. 26, 2022.

BlackLine paid $165 million in money up entrance, with an earnout consideration of as much as $75 million over the following three years, topic to sure efficiency circumstances.

The acquisition will deepen BlackLine’s capacity to automate intercompany accounting, at a time when the complexity of multinational firm reporting has change into extra complicated, because of altering regulation and a tendencies towards international enlargement and M&A. Particularly, FourQ’s expertise will add advance tax and regulatory compliance capabilities to BlackLine’s present performance.

“Intercompany accounting is without doubt one of the greatest distractions for finance and accounting for multinational firms. Laborious to imagine, however most firms are nonetheless utilizing legacy, repetitive and guide processes to handle intercompany, exposing their companies to pointless prices, important compliance dangers, and missed working capital and tax alternatives,” mentioned BlackLine CEO Marc Huffman, in a press release. “F&A should change into extra agile to reply to always evolving market dynamics and regulatory wants — however they’re usually buried in tactical transactional work and intercompany disputes. Intercompany challenges should not new however with more and more complicated international enterprise fashions and regulatory scrutiny, demand for intercompany transformation is larger than ever.”

“FourQ and BlackLine share a imaginative and prescient to assist optimize prospects’ international operations for larger profitability and effectivity, whereas liberating F&A groups to deal with strategic points of their enterprise,” mentioned FourQ co-founder and CEO Varun Tejpal, in a press release. “On the similar time, FourQ meets a necessity within the workplace of the controller that’s extremely complementary to BlackLine’s complete monetary operations administration platform. I sit up for lowering the complications attributable to messy intercompany accounting processes and additional cementing BlackLine’s market-leading place as we be part of forces to assist prospects proceed to advance their intercompany journeys.”

Tejpal will function managing director for intercompany at BlackLine.

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