CALIFORNIA: Chargebee acquires Brightback

chargebee-.jpg
Chargebee’s founders
MSK Sudhakar
Details: Chargebee, a subscription management technology provider based in San Francisco, has bought Brightback, a company that provides customer management retention technology.

The deal comes only a few months after Chargebee acquired RevLock, a revenue recognition software developer, in October. Financial terms were not disclosed.

Brightback’s technology aims to increase customer retention by reducing online cancellations of subscriptions and retaining people who have signed up for free trials.

“During the pandemic, we saw a huge uptick in new customers for subscription businesses around the globe,” said Chargebee CEO Krish Subramanian in a statement Tuesday. “As the world continues to reopen, a challenge facing many of those businesses is now how to retain and expand those customer relationships.”

Brightback, which is also based in San Francisco, will join Chargebee in different offices and remotely across the world, and Brightback’s executive team will be added to Chargebee’s leadership team.

ILLINOIS: GTreasury buys Hedge Trackers

Details: GTreasury, a treasury and risk management technology provider based in Chicago, has acquired Hedge Trackers, a provider of hedge accounting, consulting and software services.

The deal will combine Hedge Trackers’ hedge accounting services and SaaS technology with GTreasury’s treasury and risk management system. Financial terms were not disclosed.

“Most CFOs and treasury teams understand the criticality of exposures and forecasts, but the highest-performing teams recognize and act on the subtle nuances directly impacting exposure,” said GTreasury CEO Renaat Ver Eecke in a statement Tuesday. “These are key decisions that have an outsized effect on corporate finances. Our acquisition of Hedge Trackers creates a unique and exciting opportunity for organizations to significantly, confidently and advantageously optimize their complex accounting.”

Hedge Trackers, based in San Jose, California, was founded in 2000 and helps CFO offices set up hedging strategies, identify exposure, manage risk, and meet compliance and audit requirements.

“Your top priority as CFO is determining what matters most in your organization’s financial statements,” said Hedge Trackers CEO Helen Kane in a statement. “Do you care about revenue? Operating income? With this acquisition, the combined GTreasury and Hedge Trackers teams will help CFOs and the teams they manage to think more strategically.”
MORE FROM ACCOUNTING TODAY