Siigo, the leading ERP software company for small- and medium-businesses (SMBs) in Colombia, today announced that it has joined forces with Memory, a leading ERP provider for SMBs in Uruguay. This acquisition marks Siigo’s second geographic expansion in less than three months, after acquiring Contífico, ERP software provider in Ecuador in August 2020. Siigo received an investment in 2017 from Accel-KKR, which has accelerated its growth through organic initiatives and cross-border expansions.
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The combined businesses of Siigo and Memory serve a common goal of bringing leading cloud-based technology in accounting, administrative and electronic invoicing software to an estimated market of more than 1,000,000 SMBs and more than 300,000 accountants throughout Latin America. Memory and Siigo share highly complementary characteristics including vision, talent, technology, culture, knowledge, and experience that led to this strategic transaction. Siigo’s leadership team will be augmented by Memory’s experienced management team, including Memory CEO and founder Roni Lieberman.
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“At Siigo, we are convinced that by bringing the best talent under one umbrella, we can achieve our goal of being the leader in ERP software for SMBs across Latin America,” said David Ortiz, CEO of Siigo. “This goal is rooted in our dream to deliver the very best technology, talent and customer service to help Latin American businesses succeed. Indeed, we have already committed to investing more than USD10 million in technology and R&D in this region in 2021. With Memory founder Roni Lieberman and his team on our side, we continue to make big strides towards achieving that goal.”
“While we take great pride in what we have accomplished over the past 35 years, we are excited to become part of the Siigo family and believe that our partnership will do great things, not only for Memory, but for all of Uruguay and beyond,” echoed Roni Lieberman, CEO and founder of Memory. “With support from Siigo and Accel-KKR, we are eager to realize continued innovation and development as we seek to deliver the best products in the market for our valued customers.”
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