Workiva acquires ParsePort for $100M
Workiva Inc. announced Friday that it has acquired Denmark-based ParsePort to strengthen its position in XBRL financial disclosure in Europe. European organizations use Workiva’s cloud platform for both financial and nonfinancial disclosures such as European Single Electronic Format and ESG annual reports, according to a release. More than 800 organizations in Europe use ParsePort’s XBRL conversion software. “Aligning ParsePort with Workiva creates an incredible opportunity to set a new standard in digital reporting,” said ParsePort co-founder Kim Eriksen. “For ParsePort, raising our global profile with Workiva will extend our reach to even more organizations.” Workiva acquired ParsePort for $100 million in cash. Workiva funded the transaction with existing cash on hand. More details about the acquisition will be shared during the company’s first-quarter earnings conference call on May 3.