JAGGAER, a portfolio company of Accel-KKR, is planning on acquiring BravoSolution from Italmobiliare S.p.A. No financial terms were disclosed. Chicago-based BravoSolution is a strategic procurement solution provider.
RESEARCH TRIANGLE PARK, NC – November 29, 2017 – JAGGAER, a leading independent spend management technology company, today announced that it plans to acquire BravoSolution from Italmobiliare S.p.A., subject to customary closing conditions, effectively rendering JAGGAER the largest independent, vertically focused spend management solutions company in the world. JAGGAER will have over 1,850 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East. JAGGAER offers complete indirect and direct eProcurement solutions with advanced spend analytics, complex sourcing, supplier management, contract lifecycle management, savings tracking, and intelligent workflow capabilities.
BravoSolution aligns with JAGGAER’s existing Source-to-Pay technology suite and vertical strategy, offering a complete solution that has been adopted by leading businesses across the globe. Collectively, the JAGGAER organizations will focus on providing specialized solutions for Manufacturing, Education, Life Sciences, Healthcare, Retail, Transportation, Consumer Products, Construction, Oil & Gas, and Public Sector.
“The combination of BravoSolution and JAGGAER creates a powerhouse in the global spend management space and represents the execution of our strategy to build a Super Suite of fully integrated spend management solutions. This acquisition enables the largest companies in the world to do business with a single partner and cover all of their spend management needs. We have best of breed, fully developed solutions for multiple vertical industries delivering value across the full spectrum of spend types. With our size, financial stability, and expanded infrastructure we can further accelerate product innovation and bring customer value across a vast swath of geographies and industries,” says Robert Bonavito, CEO of JAGGAER.
“JAGGAER is a bold company on an aggressive growth path. The combined entity will deliver greater opportunities for both customers and employees. The combination will allow increased innovation and provide a foundation for procurement digitalization that will set the trends and benchmarks for the entire industry,” says Jim Wetekamp, CEO of BravoSolution.
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER offers the only comprehensive and complete spend solution suites in the procurement space, enabling commerce between any businesses, anywhere. We have pioneered spend solutions for over two decades and continue to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world’s largest education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, and medical technology companies and organizations. JAGGAER’s SaaS based, Source-to-Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing through contract and supplier relationship management. Additionally, JAGGAER holds 38 patents–more than any other spend management company. Learn how our solutions can power your organization. www.JAGGAER.com.
BravoSolution is a leading global strategic procurement solution provider. Our procurement technology platform and practitioner experience help more than 650 companies and 150,000 procurement professionals in over 70 countries unlock the power of procurement to drive financial performance, build procurement organizational excellence, manage risk, and influence innovation. BravoSolution’s approach to strategic procurement consistently delivers business outcomes to enable customers to outperform their market. BravoSolution has direct operations in 18 offices located in 12 countries across 4 continents, employing more than 650+ procurement experts. To learn more, see http://bravosolution.com.
Italmobiliare S.p.A. is an Italy-based investment company which holds and manages a diversified investment and equities portfolio with a strategic vision underpinned by a financial and industrial history going back more than 150 years. The company was established in 1946 and listed on the Italian Stock Exchange since 1980, is one of the major Italian industrial groups. To learn more, see http://www.italmobiliare.it