JAGGAER Completes Acquisition of AECsoft
CARY, N.C., January 3, 2011 “” JAGGAER, Inc., a leading provider of on-demand strategic procurement and supplier enablement solutions, today announced that it has completed its acquisition of AECsoft USA, Inc., a leading provider of supplier management and sourcing technology. As announced on December 21, 2010, the acquisition adds comprehensive supplier management, sourcing and compliance reporting to JAGGAER’s best-in-class eProcurement suite.
Total consideration for the transaction was approximately $13 million, consisting of approximately $9 million in cash and 325,203 shares of JAGGAER common stock, having a current value of approximately $4 million. JAGGAER may also pay additional shares of common stock having a current value of up to approximately $4 million based on successful achievement of certain performance targets over the next three fiscal years.
Our current target markets are higher education, life sciences, healthcare and state and local governments. We tailor our solution for each of the vertical markets we serve by offering industry-specific functionality, content and supplier connections. We serve more than 175 customers operating in 16 countries and offer our solution in five languages and 22 currencies.
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