Selectica to acquire Iasta in $7 million cash plus stock deal

Paul Snell is managing editor at Supply Management
10 June 2014

Want the latest procurement and supply chain news delivered straight to your inbox? Sign up for the Supply Management Daily

10 June 2014 | Paul Snell

Contract management technology provider Selectica is to acquire e-procurement firm Iasta for $7 million (£4.2 million) cash plus stock.

The deal, which also includes one million shares of Selectica stock and the option for Iasta employees to purchase 700,000 shares in Selectica, is expected to be completed during the summer.

Iasta, whose customers include AOL, Foot Locker and Centrica, had revenues of $11 million (£6.5 million) in 2013. In March Selectica, which works with companies including AstraZeneca, MillerCoors and Xerox, posted total revenue of $15.8 million (£9.4 million) for the financial year.

“Selectica’s vision is to provide the platform for enterprises to manage and optimise their business relationships. At the core of all business relationships sits the contract, and vendor/procurement relationships are a critical part of the contract ecosystem. Together, Selectica and Iasta will help customers improve decision making with real-time insights, reduce a wider variety of buy- and sell-side risks, and optimise in ways that drive incremental revenue strategies,” said Selectica CEO Blaine Mathieu.

LATEST
JOBS
London
GBP60000.00 - GBP70000.00 per annum + package
Bramwith Consulting
London
GBP300 - GBP320 per annum +
Bramwith Consulting
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE