Friday, September 2, 2016
Blackline Buys Runbook
Los Angeles-based accounting automation software developer BlackLine has acquired London-based Runbook, a developer of financial close and automation software for the SAP market. Financial terms of the acquisition were not announced. Blackline said the acquisition will help it provide software to automate and control the entire financial close process for SAP, as well as help it with its ongoing European expansion strategy. Blackline said that Tennenbaum Capital Partners provided financing for the acquisition. Blackline said that Herman Heller and Rob Leesberg, the founders of Runbook, have joined the company as part of the acquisition.