Afternoon Coffee: Coupa to Buy Exari; TA Services’ Acquisition of Celadon Complete

AdobeStock/Nongnuch Leelaphasuk

Some M&A excitement on tap today, but first, Turkey's defense minister adopts a conciliatory tone over a recent defense purchase.

Defense Minister Hulusi Akar hopes that his country's decision to buy a 'Made in Russia' air defense missile system would not attract U.S. sanctions, especially because Turkey “remained committed to the North Atlantic Treaty Organization.”

Akar, while addressing a U.S.-Turkey conference in Washington on Monday, explained his country was not an opponent of the U.S. Ankara plans to purchase the S-400 missile system from Russia.

Coupa acquires Exari, gaining a top-ranked CLM provider’s capabilities

As reported on Spend Matters this morning, “Coupa Software is buying Exari to gain its best-of-breed contract lifecycle management (CLM) offering, Coupa announced Tuesday morning. Terms of the deal were not disclosed, but Coupa, a San Francisco-area suite provider of business spend management (BSM), said in a news release that the transaction for Boston-based Exari is expected to close in its second fiscal quarter.

“Exari is a top performer in Spend Matters’ CLM rankings on SolutionMap, and it is unique in its knowledge-based approach to deep contract modeling rather than just straight artificial intelligence (AI) and machine learning based on contract text analytics,” writes JP Morris, editor of Spend Matters.

Get deep-dive analysis on the deal from Jason Busch and Pierre Mitchell right here (paywall).

TA Services all set to be North America’s leading logistics business

TA Services’ acquisition of the Indianapolis-headquartered Celadon Logistics Services is now complete.

Both companies will continue to operate independently until plans to integrate them are finalized over the next six months, according to a press release. Once the integration is over, the companies will operate under the TA Services brand.

TA Services is the third-party logistics (3PL) and brokerage division of private equity firm One Equity Partners’ (OEP) portfolio company PS Logistics.

Celadon Logistics is a 3PL of managed transportation, supply chain & warehousing services across North America.

Speaking of which, logistics companies need to deploy new tech to survive…

Competition in the logistics business has only gotten more intense. To survive, logistics companies need to take their companies to a new level. How? The way ahead is by implementing business intelligence & new technologies to get faster & better results which will streamline operations, says this guy.

Spur secures $8 million in Series A funding

Tech company Spur, whose platform "offers workplaces such as hotels, restaurants, and other businesses with hourly workforces a managed solution for all their employment needs that saves them time and money, while also improving the benefits and services available to the workforce," announced one of the biggest venture rounds ever raised by an Alabama-based company, according to a press release.

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