Proactis to be acquired by Pollen Street Capital

Pollen Street Capital — a London-based, independent and alternative investment management firm — has reached an agreement to buy Proactis Holdings for nearly $98 million.

Proactis is a specialist source-to-pay software provider based in Northern England with an international presence, including in the UK, US, France, Germany and the Netherlands, and about 1,100 customers.

Alan Aubrey, chairman of Proactis, said: "As a result of the acquisition, we believe Proactis will be both nimbler in executing its strategy and able to build a business capable of sustainable longer-term growth."

Proactis has been in play for a couple of years. Click the link to see Spend Matters analysis of Proactis' prospects.