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March 7, 2023

Cordance Completes Acquisition of Neatoscan, Inc.; Joining Forces with Upright Labs

Transaction Services

Exbo Group performed the financial due diligence for Cordance’s acquisition of Neatoscan. This acquisition will expand Cordance’s offerings in the market, providing implementation and advisory services that will help resellers and secondhand thrift stores improve operations, increase sales, and achieve growth. 

As part of the financial due diligence performed, Exbo analyzed Neatoscan's financial statements to ensure accuracy and completeness. Exbo also examined revenue streams, expenses, and cash flow to identify any potential issues or concerns. Then, a comprehensive understanding of Neatoscan's financial health, as well as the identification of any potential risks or opportunities associated with the deal, were provided to the client.

Sharon Love, CEO of Cordance, said, “the combined capabilities of Neatoscan and Upright Labs enable us to realize our vision of providing a comprehensive reselling solution for collectibles, books, and the broad range of products that secondhand online retailers provide to their customers. These retailers have an important role to play in our communities and we are pleased to expand our support of their missions and sustainability initiatives.”

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