Atlanta (March 29, 2022) - Morris, Manning & Martin advised OnPay Solutions of Jacksonville, Fla., in its acquisition by Stockholm-based Medius, a leading provider of accounts payable (AP) automation solutions.
Founded in 2009 to improve the lives of accounting professionals globally, OnPay Solutions helps its clients streamline AP processes and lower costs by automating invoice payments. The company provides “no touch” virtual card, ACH, check and wire payments for more than 400 customers ranging from mid-sized companies to some of the U.S.'s biggest enterprises and institutions. The deal will enable Medius to integrate payment processing – AP automation's “last mile” – directly into its source-to-pay platform, enhancing its customers' operational efficiency and strengthening their anomaly, fraud and risk detection capabilities.
The MMM team is led by Alex Scharyj and includes Chris Collins, Ella Vacca and Matt Wochok, all of Atlanta. Cohen & Company Capital Markets (a division of J.V.B. Financial Group, LLC), served as exclusive financial advisor to OnPay Solutions. Stoel Rives LLP is acting as legal counsel to Medius.
