Relyco Acquires Check Supply Business from Piracle, an AvidXchange Company
Relyco, Dover, N.H., has acquired the check supply business from AvidXchange. The agreement builds on the long-term strategic partnership between Relyco and AvidXchange, and leverages the key strengths of each organization.
AvidXchange, a leading provider of accounts payable and payment automation solutions for midsize companies, acquired Piracle in November 2014. Since the acquisition, AvidXchange has focused on developing solutions to enable customers to facilitate 100 percent of their payments with the addition of self-managed options brought to their product portfolio from Piracle. As AvidXchange’s core competency is developing and maintaining innovative software solutions, it was paramount to find a best-in-class check supplies company to continue to provide customers with the same superior level of product and service they had become accustomed to with Piracle. Relyco’s acquisition of AvidXchange’s check supply business is a direct result of this aspiration.
“Our acquisition of the Piracle supply business from AvidXchange allows us to expand the breadth of secure check stock, envelopes and MICR toner we offer our customers,” said Bruce Steinberg, president of Relyco. “Existing AvidXchange check customers will have continued availability of the supplies on which they depend, current Relyco customers will be able to take advantage of one-stop access to new offerings, and all customers will benefit from Relyco’s 27 years of experience in printing and payment services.”
“It’s all about doing what’s best for our customers,” said Michael Praeger, CEO and co-founder of AvidXchange. “AvidXchange is continuing to focus our time and resources on innovation to automate payables processes for midsize companies, and we are thrilled to join forces with Relyco to support our customers with a best-in-class offering for check supplies from a company that is investing in that area of the business. As part of the acquisition, we felt really strongly that Mycca Dutson, who has supported our check supply customers for years, should join the Relyco team and maintain those great relationships she’s cultivated to create a smooth transition.”
To learn how they can find and purchase suppliers, existing AvidXchange customers can visit www.relyco.com/welcome-to-relyco.