Medius acquires Tunisian startup, Expensya. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today

 

1. Medius acquires Tunisian startup, Expensya

 

Medius has announced the complete acquisition of Expensya, as confirmed by Karim Jouini, Expensya’s CEO. 

Expensya, founded in Tunisia in 2014, offers advanced expense management solutions to over 6,000 customers in more than 100 countries, serving 700,000 active users. 

Their seamless integration with leading ERP applications optimizes financial control within the Office of the CFO.

Medius, known for its cutting-edge accounts payable (AP) automation solutions, leverages AI to streamline invoice capture, processing, and payments for mid-market and enterprise AP teams. 

This acquisition, according to the startup, aims to enhance Medius’s capabilities in autonomous AP, payments, procurement, sourcing, contracts, and supplier onboarding.

By combining Expensya’s AI-enabled employee spend management with Medius’s AP automation platform, the new entity are on the road to address organizations’ entire indirect spend, optimizing costs and processes comprehensively.

While the financial terms remain undisclosed, the deal is expected to be one of the largest in the MENA region.

 

Tech Trivia: AIX is a proprietary server operating system based on which other OS?

1. Windows NT
2. Unix
3. Android
4. PC DOS

Answer: see end of post

 

2. Getir exits three European countries for sustainability 

 

Turkish startup, Getir, has announced its decision to withdraw from Italy, Spain, and Portugal. 

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This move comes as the company seeks to maintain a more sustainable operation, especially in light of customers’ return to in-person grocery shopping as pandemic restrictions ease.

Ripples Nigeria gathered that the startup planned to continue its operations in the UK, the US, Germany, the Netherlands, and Turkey, which currently account for 96% of its revenues. 

This strategic shift, according to the startup, will allow the company to focus on its existing markets, ensuring better financial results and sustainable growth.

The startup also noted that it is finalizing a funding round of $150 million from the Abu Dhabi-based investment firm Mubadala, in the form of a loan that may convert to equity with additional investments. 

The backing is expected to support Getir’s efforts to optimize its core markets and expand its innovative grocery delivery services.

 

3. Experts predicts bullish run for Ethereum

 

A panel of cryptocurrency and fintech experts has forecasted a bullish climb for Ethereum throughout 2023 and beyond.

The second-largest cryptocurrency is projected to reach $2,741 by the end of 2023, with an optimistic long-term price target of $16,414 by 2030.

Experts attribute Ethereum’s price surge to various factors, including its successful upgrade to a proof-of-stake model, making it more efficient and deflationary. 

The growing institutional adoption of Bitcoin is expected to positively influence Ethereum’s price trend.

Regulatory developments in the U.S. play a role in Ethereum’s future growth, with discussions revolving around whether the SEC will categorize Ethereum as a security. 

The majority of experts believe this outcome is unlikely, as such a decision could impact access to smart contract technology for U.S. residents.

The crypto’s potential to transform financial systems and its solid technological foundations position it as a promising investment for the future.

 

Trivia answer: Unix

AIX stands for “Advanced Interactive eXecutive.” AIX is a proprietary UNIX-based operating system developed and sold by IBM. 

It was first released in 1986 for use on both workstations and servers, with later versions focused on the needs of enterprise servers. It runs on IBM’s Power series of server computers, which are popular in finance, healthcare, and many other industries.

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