In the past week, I've been able to piece together a good half dozen different data points that suggest Procuri is close to joining forces with another provider -- potentially very close. When the deal breaks, Spend Matters will be quick to analyze it. But in the meantime, for the many who asked me who the players were in this post, yes, Procuri was one that I referenced, the "one on the rise ... which [has been] since its inception." In other words, given their growth and reputation, I expect Procuri to sell for a premium. In my view, the valuation will be very important to watch given their SaaS revenue mode. If it's low (less than 3.5-4x revenue), then in general, that will be bad news for SaaS valuations across the market.
But what about the other acquisition activity that I referenced in the above-linked post? Well, we'll have to wait and see whether that deal, too, is strategic or whether it becomes a fire sale. For the sake of the (shrinking) management team and investors -- hint, hint, that I previously chided for putting $30 million in a terribly risky investment, at least in my view at the time -- let's hope it's the former. They're a tremendous number of under-used assets inside this particular vendor which will take a creative team to put to good use.