Tagged Content: Breaking News

SciQuest to be Acquired by Private-Equity Firm AKKR

- May 31, 2016 12:51 PM | Categories: Breaking News, Industry News, M&A, Solution Providers

kritchanut/Adobe Stock SciQuest Inc. will be acquired by Accel-KKR (AKKR), a tech-focused private equity firm, for approximately $509 million. In an announcement, SciQuest CEO Stephen Wiehe said the company expects to continue to “accelerate innovation, increase efficiency” and expand its solution suite under the new private ownership. AKKR has been a stockholder of SciQuest since 2014 and currently owns 4.9% of the solution provider. Once the deal is complete, AKKR will own 100% of of the company.

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OpusCapita Acquires jCatalog, Expanding P2P Capabilities in Nordics and Europe

kritchanut/Adobe Stock The e-invoicing, procure-to-pay (P2P) and trade financing markets in the Nordics just got a lot more interesting. Earlier Tuesday, OpusCapita, which is not well known outside of the Nordics yet has more than €250 million in annual revenue, announced it would acquire catalog management and procurement specialist jCatalog. The terms of the deal were not disclosed, other than that “the agreement has been closed on 25 April 2016.”

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MBO Partners Goes Abroad, Launches New International Expansion Initiative

MBO Partners MBO Partners announced Thursday it is launching a new initiative to expand internationally. MBO described the initiative as “a new international sales and service delivery strategy based on a network of qualified Member Firms.” To date, MBO client spend outside of the U.S. has been managed through relationships with sub-contracted engagement providers that support contractors for MBO clients across more than 80 countries. MBO said the new network “will supplement MBO’s existing relationships” with those providers.

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Toptal Acquires Skillbridge and Broadens Its Scope Beyond Technical Talent

Tradeshift Baiwang Toptal, a network of freelance software engineers and designers, announced Tuesday it acquired Skillbridge, an online talent marketplace for non-technical business professionals, for an undisclosed amount. By bringing Skillbridge’s broader network of “top-tier elite business freelancers” onto its platform, Toptal extends its business into a attractive adjacent market segment of enhancing scale and platform economies. The acquisition is Toptal's first entry into non-tech talent market

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‘TalentWave’ Created by Merger of Two Independent Workforce Solution Firms

TalentWave TalentWave is the new name and identity of the combined independent workforce solution firms ICon Professional Services and Synergy. The two businesses merged in October 2015 under the auspices of Serent Capital, which in February 2015 acquired a majority equity share in ICon. Talent Wave CEO Teresa Creech told us in an interview that the rebranding marks a major milestone in the integration of the two businesses and their teams as well at the launch of new strategy aligned to accelerating changes in the independent workforce solution space.

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Basware Acquires Verian, Expanding its Reach in U.S.

- March 31, 2016 10:47 AM | Categories: Breaking News, eProcurement / Procurement, M&A, P2P

kritchanut/Adobe Stock Basware announced Thursday it acquired Verian, a move that Basware said will help it expand its cloud-based business revenues in the U.S. and other key markets. Finland-based Basware provides e-invoicing and P2P and has a North American business, Basware Inc., headquartered in Stamford, Connecticut. Verian, headquartered in Charlotte, North Carolina, offers cloud-based P2P solutions. Basware said Verian brings added e-procurement capabilities to Basware’s portfolio. Verian’s existing customers will also be able to take advantage of the Basware Commerce Network.

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Upwork Introduces Upwork Pro and Enhanced Upwork Enterprise to Address Needs of Larger Businesses

Upwork Pro Online freelancer platform Upwork is introducing a new service offering, Upwork Pro, a premium sourcing solution for mid-sized businesses. Upwork Pro will also be available to larger businesses that use the Upwork Enterprise suite. The launch of this offering represents yet another step by Upwork to engage mid-sized businesses and large enterprises and to meet their urgent need to source highly qualified talent. These businesses, while strapped for talent, have not yet tapped into a burgeoning, alternative source of skilled talent: online freelancers in many locations across the world.

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Coupa Buys Contractually to Improve Contract Management

Efficio Coupa has acquired cloud-based contract management solution provider Contractually. Terms of the deal were not disclosed, but Spend Matters believes this was not a substantial acquisition in financial terms. From a capability perspective, however, the acquisition appears clever on multiple fronts, even if Coupa is not acquiring a standalone contract lifecycle management (CLM) provider. The acquisition adds collaboration and authoring capabilities that reduce contract risk, reduce errors and increase efficiency.

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Taulia Announces $46M in Series E Funding Round

photodune-3111204-payoff-xs1-228x138 Taulia announced Thursday it raised $46 million in financing, which Spend Matters sees as encouraging news for 2016. The recent Series E financing was led by Zouk Capital. Taulia said the new investment allows the financial supply chain to “accelerate its rapid expansion,” the company’s press release stated. It also brings total funding for Taulia to more than $130 million.

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The FTC Gets it Right with its Injunction Against a Staples and Office Depot Merger

- December 7, 2015 4:14 PM | Categories: Breaking News, Industry News, M&A

Staples Office Depot merger The Federal Trade Commission announced Monday that it is filing an injunction to prevent the planned merger by Staples and Office Depot. Simultaneously, the Canadian Competition Bureau also filed to block the transaction with Canada’s Competition Tribunal. Yet for CPOs and category managers, this announcement brings some level of opportunity. Staples and Office Depot will undoubtedly try to provide yet another remedy to the FTC and maybe even tactically conduct business as if the merger will eventually take place.

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SAP Announces Integration of Fieldglass and SuccessFactors

Staples Office Depot merger SAP announced Tuesday the initial integration of the vendor management system (VMS) Fieldglass and the human capital management (HCM) solution SuccessFactors. Both Fieldglass and SuccessFactors are SAP solutions. SuccessFactors is used by enterprises to manage their employee workforces; Fieldglass, acquired by SAP in May 2014 for a reputed sum of more than $1 billion, enables the management of contingent workforce and staffing suppliers. With the integration, organizations will “now be able to upload data from Fieldglass into contingent profiles in SAP SuccessFactors Employee Central, making them visible to everyone in the organization through people searches and organizational charts,” the press release said.

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Field Nation Introduces a ‘Complete,’ Comprehensive Field Workforce Management Solution

independent workforce Field Nation, a WIP that enables businesses to engage and orchestrate various types of technical field services workers, has announced a new platform extension called Field Nation Complete. Complete allows businesses to now seamlessly manage not just directly engaged independent contractors, but also employee workers and the field services workers of third-party service delivery providers, giving businesses and service delivery providers the capability to plan and manage an entire field workforce comprehensively.

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