Accel-KKR Completes Acquisition of JAGGAER (formerly SciQuest)
RESEARCH TRIANGLE PARK, NC – July 28, 2016 – JAGGAER (formerly SciQuest), a leading provider of end-to-end spend management solutions delivering value beyond savings, today announced that affiliates of Accel-KKR, a leading technology-focused private equity firm, have completed their acquisition of the Company for approximately $509 million. With this transaction completed, JAGGAER’s stock has ceased trading on the Nasdaq Global Select Market.
“We look forward to working with JAGGAER to build on its foundation of delivering leading technology, customer engagement and measurable results,” said Tom Barnds, Managing Director of Accel-KKR.
- Total Transaction Value of Approximately $509 Million
- JAGGAER Becomes a Private Company
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments. The firm invests in software and IT enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions from minority-growth investments to buyouts, recapitalizations, divisional carve-outs and going-private transactions. The firm has offices in Menlo Park, Atlanta and London. For more information, please visit http://www.accel-kkr.com.
Some of the largest Commercial, Manufacturing and Life Sciences companies in the world trust JAGGAER with billions of dollars of annual spend. Additionally, JAGGAER is the leading procure-to-pay provider in the Higher Education and Government sectors. JAGGAER eprocurement and strategic sourcing customers across the globe have gained access to the best suppliers, with the best terms, on our scalable, customizable, user-friendly platform. Our SaaS-based, source-to-settle solution provides unparalleled visibility, insights and recommendations to procurement leaders and suppliers. The result is a fluid supply chain driven by powerful spend analysis, comprehensive contract management and efficient accounts payable solutions. Learn how our solutions can power your organization: www.jaggaer.com.
JAGGAER Media Contact
Edelman for JAGGAER
Megan Smith, 404-832-6776
JAGGAER Investor contact:
JAGGAER, Inc., 919-659-2322
Accel-KKR Media contact:
KEKST for Accel-KKR
Todd Fogarty, 212-521-4854