Friday, September 21, 2007

Ariba Acquires Procuri

Sunnyvale-based Ariba said Thursday that it is buying Atlanta, Georgia-based Procuri, a provider of on-demand supply management software. The deal is worth $93M, split between cash and stock, along with a payoff of $8M of Procuri's debt. Procuri develops software-as-a-service used for supplier management, contract management, and sourcing. According to the firms, Procuri counts such customers as Barclays Bank, ConAgra, Domnio's Pizza, JetBlue, Sun Microsystems, and UPS as customers.