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Tradeshift to Acquire IBX Business Network from Capgemini

Tradeshift Baiwang

Tradeshift announced Wednesday it had acquired acquired IBX Business Network from Capgemini. Spend Matters believes the transaction is, by a significant margin, Tradeshift’s most important acquisition to date. And from the “seller” side of the deal, Capgemini suggests that the transaction represents, from a corporate development perspective, more than just the divestiture of a business unit. Spend Matters will be speaking with Tradeshift later today and will provide additional information and analysis on the transaction later this week. We are particularly keen to understand how Tradeshift plans to rationalize the proven e-procurement capability within IBX with what it is in the early stages of rolling out to customers in 2017.

Coupa Acquires Spend360, Adds Best-in-Class Spend Classification Capability to its Suite

Coupa announced early Tuesday it had acquired Spend360 International Ltd., a best-in-class spend classification vendor. Coupa “has acquired substantially all of the assets of Spend360 International Ltd. to help companies digitize antiquated processes for data classification,” the company said in the acquisition announcement. Coupa noted the acquisition closed in December 2016 and that financial terms were not disclosed. Further, “Coupa expects the capabilities from Spend360 to be made available to select Coupa customers later this year. As part of the acquisition, the Spend360 team has joined Coupa to continue developing forward-thinking approaches for data classification and predictive insights.”

GTCR Acquires Beeline From Adecco, Merges VMS Firm with IQNavigator

GTCR, a Chicago-based private equity firm and owner of IQNavigator (IQN), announced early Tuesday it had acquired Beeline, a vendor management system (VMS) and freelancer management system (FMS) provider, from Adecco. Beeline had previously been part of Adecco’s acquisition of MPS, which valued that combined entity (including Beeline) at $1.3 billion in 2009. Financial terms of GTCR’s acquisition of Beeline were not disclosed.

Coupa IPO Pops on Opening: What Do We Think?

Coupa (NASDAQ: COUP), which priced last night at the higher end of its revised range ($18), nearly doubled this morning, after it started trading. As of publishing of this post, it has dropped slightly — up 85%+ since the market open — but it is still above $30 per share. The current stock price gives Coupa a valuation within striking distance of $2B, which would equate to above 10x revenue on a forward basis or over 15x on a trailing basis. Moreover, the stock price jump likely makes most if not all of the investors “whole” given preferences and other stipulations typical of later-stage funding rounds — although the nuances here can be complicated. More importantly, here’s my quick take on the implications for the sector of the IPO and the valuation (opinions are mine and do not necessarily reflect those of my colleagues at Azul Partners or Spend Matters).

BravoSolution Acquires P2P Provider Puridiom

BravoSolution announced early Monday that it had completed its acquisition of Puridiom, a procure-to-pay (P2P) technology provider specializing in middle market e-procurement. This Spend Matters briefing overview provides a summary of the transaction and features a Q&A on the transaction with BravoSolution’s CEO Jim Wetekamp. Terms of the transaction were not announced and both organizations are privately held companies.

Microsoft and LinkedIn Connect with $26.2B Acquisition Deal

In a surprising move, Microsoft announced Monday an all-cash deal to acquire LinkedIn for $26.2 billion, the equivalent of $196 per share. LinkedIn is a significant player in the talent acquisition and recruiting space. Revenue from its Talent Solutions business unit accounted for $558 million, or 65% of total revenues, in Q1 2016, and grew 41% year-over-year.

Tradeshift Raises $75M in Series D Funding Round

FusionOps funding

Tradeshift raised $75 million in a recent Series D funding round, bringing the P2P platform provider’s valuation up to nearly $600 million. Data Collective led the latest funding round, and other investors included HSBC, American Express Ventures, CreditEase Fintech Investment Fund, Notion Capital and Pavilion Capital. Tradeshift, which now has a user base of more than 800,000, has reportedly raised $205 million total this year and is on track to bring in $50 million in revenue.

Elemica Bought By Private Equity Firm Thoma Bravo

Tradeshift Baiwang

Supply chain operating network provider Elemica will be acquired by private equity firm Thoma Bravo LLC. The two companies announced the deal earlier today but did not disclose financial details. In a press release, the two companies said the acquisition will allow for a greater focus on resources and investing in next-generation technologies and expand Elemica’s supply chain solution capabilities. According to Elemica CEO John Blyzinskyj, the acquisition also means a faster time-to-market for supply chain solutions.

SciQuest to be Acquired by Private-Equity Firm AKKR

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.

OpusCapita Acquires jCatalog, Expanding P2P Capabilities in Nordics and Europe

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.”

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.

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