Tech Company M&A Transactions
Procuri Acquisition
On 9/20/2007, Procuri was purchased by Ariba. The transaction price was $101 million.
Transaction Overview
Company Name
Acquired By
Announced On
9/20/2007
Transaction Type
M&A
Amount
$101,000,000
M&A Terms
Under the terms of the agreement, Ariba will deliver $93 million in consideration at closing, consisting of equal amounts of cash and stock, of which $14M of the cash will be placed in escrow to secure indemnity obligations of Procuri stockholders. Ariba will also pay off approximately $8 million of Procuri's debt.
Company Information
Company Status
Acquired or Merged
Industry
Enterprise IT
Mailing Address
15 Piedmont Ctr NE 1100
Atlanta, GA 30305
USA
Atlanta, GA 30305
USA
Phone
Website
Email Address
Not Recorded
Overview
Procuri delivers strategic sourcing solutions, services and knowledge to Global 2000 enterprises. Customers report average cost savings of nearly 25 percent in the procurement of direct and indirect materials and services and cycle time reductions of up to 75 percent.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Mark Morel
Chief Financial Officer
Michael O'Donnell
Chief Technical Officer
Steve Brooke
Executive Vice President
John Madrid
Vice President
Tobias Hannon
Vice President
Rodney True
VP - Marketing
Tim Minahan
VP - Operations
Marie Gunn
VP - Product Management
Mark Wright
VP - Sales
Jeff Wilson
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Our team works diligently to document all VC transactions involving tech companies. All VC database entries on this site are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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