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Accel-KKR, a global technology-focused investment firm, announced the acquisition of AARO, a leading provider of Corporate Performance Management (CPM) solutions, and its merger with Aico and Mercur to create a comprehensive SaaS platform for finance and performance management in EMEA. Michael Teixeira, appointed Group CEO, will lead the unified entity, leveraging his experience in scaling tech companies to drive growth and innovation.
AARO, Aico, and Mercur merge to form a leading financial SaaS platform in EMEA, announced July 14, 2025.
Michael Teixeira named Group CEO to lead strategic expansion.
Aico automates financial close; Mercur powers budgeting and xP&A; AARO handles group consolidation.
Serves thousands of mid-market and enterprise clients across Nordics, UK, BENELUX, DACH, and Middle East.
AI-driven automation enhances accuracy, compliance, and decision-making.
Targets $30B global CPM market, growing at 12% CAGR through 2030.
The merger combines AARO’s enterprise-grade consolidation and reporting, Aico’s financial close automation, and Mercur’s budgeting, forecasting, and xP&A capabilities into a seamless SaaS platform. “This is more than a corporate merger; it’s a strategic unification,” said Michael Teixeira. “We’re creating a unified, integrated cloud solution that supports CFOs across the entire value chain, from Record to Report to group-level reporting.” The platform streamlines financial operations, reduces manual effort, and ensures compliance with IFRS and local GAAP standards, serving clients like AkzoNobel and Syngenta.
Unified SaaS Platform: Covers Record to Report, consolidation, budgeting, forecasting, and xP&A, reducing system complexity.
AI-Powered Automation: Aico processes 500,000 documents annually, saving over 6,000 hours, while minimizing errors in financial journals.
Scalability and Configurability: Adapts to complex, multi-ERP environments, supporting enterprises across Nordics, UK, BENELUX, DACH, and Middle East.
Enhanced User Experience: Integrates Aico’s user-friendly interface with Mercur’s analytics and AARO’s reporting precision.
Ongoing Innovation: Combines global engineering expertise to address CFO challenges, with a focus on compliance and actionable insights.
Backed by Accel-KKR’s $23 billion in capital commitments, the merger follows investments in Aico (April 2024) and Mercur (February 2025), reflecting a commitment to building a category-leading financial cloud suite. “Our investment stems from the vision to build a best-in-class, end-to-end SaaS financial platform,” said Maurice Hernandez, Managing Director at Accel-KKR. The unified entity, operating in Sweden, Finland, UK, and beyond, serves thousands of clients, with Aico reporting €6.2M in 2023 revenue and Mercur €12.6M. The global CPM market, valued at $30 billion, is expected to grow at a 12% CAGR through 2030, driven by demand for automation and analytics.
The AARO-Aico-Mercur merger positions the combined entity as a powerhouse for CFOs, delivering unmatched financial automation and insights across EMEA.
AARO provides Corporate Performance Management (CPM) software for group accounting, consolidation and financial reporting. Used by multinational companies, it supports IFRS and local GAAP standards. Finance teams rely on AARO to streamline complex reporting processes with precision and efficiency. The company was founded in 1989 and has employees in Sweden, Latvia, Kenya, the United Arab Emirates, UK, and Finland.
Aico is a financial close automation platform for mid-sized and enterprise companies. It enables faster, more accurate month-end reporting while ensuring compliance. Founded in 2019 in Finland, Aico serves leading European companies from offices in Finland, Germany, the UK and Latvia.
Mercur Solutions provides Corporate Performance Management (CPM) software for budgeting, planning, forecasting and reporting. Its cloud-based platform, Mercur Business Control, empowers organisations with automation and insights. Headquartered in Sweden with a UK office, Mercur has supported financial leaders for 50 years.
Accel-KKR is a technology-focused investment firm with $23 billion in capital commitments. It partners with software and tech-enabled businesses to drive growth and value. Based in Menlo Park, with global offices, Accel-KKR invests across buyouts, minority stakes, carve-outs, and credit.
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