Periscope boosts procurement data capabilities with latest acquisition
- By Mark Hoover
- Dec 10, 2014
Periscope Holdings has acquired BidSync in order to boost its cloud-based procurement and bid notification solutions for the public sector. Financial terms were not disclosed.
American Fork, Utah-based BidSync, best known for its eSourcing solutions and for what it claims is the largest government bid notification system in North America, complements Periscope and its e-procurement solutions, Periscope said in a release.
The two companies combined, with support from Periscope’s partner Parthenon Capital Partners, will have access to institutional partnership and growth capital to fund further innovation in the e-procurement market, the company said.
Periscope’s long term strategy will be to find efficiencies and products within the company’s offerings, it said in its announcement.
Stephens Inc. served as financial advisor to Periscope Holdings on the transaction, and Piper Jaffray & Co. served as financial advisor to BidSync.
Mark Hoover is a senior staff writer with Washington Technology. You can contact him at email@example.com, or connect with him on Twitter at @mhooverWT.