The big are getting bigger again in the spend management space, as major player Ariba announced a definitive agreement to acquire other major player Procuri in a $93 million cash and stock deal set to close in the next quarter.
Publicly held Ariba, already a major player — some would say the major player — in the spend management arena, looks to pick up significant capabilities in, and a large and growing customer base for, on-demand supply management in acquiring privately held Procuri, which has a mature on-demand offering encompassing strategic sourcing, contract management, spend analysis and supplier management operations.
