The deal adds more spend-management software to Ariba’s portfolio, said Ariba chief executive Bob Calderoni. This acquisition will accelerate our growth, give us scale in our on-demand business and strengthen our position in the fast growing mid-market, Calderoni said.
Procuri has more than 300 customers including Barclays Bank, The Boots Company, Domino’s Pizza, JetBlue Airways and Sun Microsystems.
Calderoni also said Ariba had grown its year-over-year subscription software backlog by 60% in the past quarter.
Ariba has a history of growing through acquisition: last year it purchased TrueSource, and in 2004 it acquired Freemarkets.
Ariba will also pay $8m of Procuri’s debt, as part of the deal, which is slated to close by the end of the year.
