OB10 acquired by Tungsten Corp, SciQuest buy CombineNet

Good grief, I go away for literally one night (we celebrated a pretty significant round-number wedding anniversary yesterday), and all hell breaks out in the procurement and supply chain software / solutions provider market!

So yesterday, SciQuest, the super-acquisitive US procurement software firm, announced the acquisition of CombineNet, one of the leading providers of what we call market informed sourcing, but others call advanced or collaborative sourcing, optimization, or whatever.

SciQuest have acquired Spend Radar, Upside Software and AECsoft in the last two or three years, building a stable of firms that were strong players in different niches (contract management, analytics, supplier information management). CombineNet were one of the two independent pure-play advanced sourcing providers, along with Trade Extensions, whilst BravoSolution, Emptoris (IBM) and Iasta also have good capability in this field. More on this of course to come...

Then,  quite literally, as I turned on my computer having got home from Bristol (our glamorous short break location), I got the announcement that OB10 were part of a dizzyingly complex set of transactions, that will end up with the firm being the central part of a AIM quoted business, incorporating a Bank and a licensing agreement with @UK for analytics technology.

OB10 are one of the leading e-invoicing players in the world, with an impressive list of blue chip clients and  over £100 billion annually processed through their e-invoicing network. They are being acquired by the Tungsten Corporation, a vehicle for Edmund Truell, a very experienced financier and venture capitalist. Tungsten is also planning to buy a Bank – according to the FT, the First International Bank of Israel - which would give them a UK banking licence and opens up some interesting opportunities in terms of joined-up thinking around e-invoicing and supply chain finance.

More about both of these events to come – and this might be a good time to look at our Spend Matters PRO and Plus subscription options. If you want in depth analysis of what this means for procurement practitioners and other solution providers, you will get more and better analysis from my US colleagues on those sites than anywhere else.

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