Workiva announced today that it has acquired Denmark-based ParsePort for $100 million.
ParsePort has been assisting companies in Europe with financial reporting for more than a decade. ParsePort solutions help authorities, banks, insurance companies, pension funds, auditors, publicly listed and smaller companies all over the world file financial reports in accordance with GAAP requirements.
“Workiva offers an end-to-end cloud platform that simplifies global organizations’ most complex reporting. With the acquisition of ParsePort, we have added a complementary XBRL conversion solution that will extend our market share in Europe for ESEF and statutory reporting,” said Workiva CEO Marty Vanderploeg. “We are pleased to welcome the ParsePort team and their in-depth market and technology knowledge as we power transparent reporting for a better world.”
The two founders of ParsePort, Michael Krog and Kim Eriksen, will continue to lead the company under the ParsePort name.
“Aligning ParsePort with Workiva creates an incredible opportunity to set a new standard in digital reporting,” said Eriksen. “For ParsePort, raising our global profile with Workiva will extend our reach to even more organizations that need to make XBRL tagging as easy and simple as possible.”
Additional details regarding the acquisition will be provided during the company’s first-quarter earnings conference call on Tuesday, May 3.
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