Jackson Walker represented Austin-based eProcurement company Periscope Holdings, Inc. in the sale of its business to mdf commerce inc. for $207 million USD ($259.9 million CAD). Through the acquisition, mdf commerce is positioned to become a public eProcurement leader in North America. The transaction is expected to close in the third quarter of 2021.
Founded in 2001, Periscope Holdings offers a fully integrated, end-to-end procurement solution to both state and local government agencies and 500,000 suppliers. Periscope’s end-to-end eProcurement solution is built specifically for U.S. government agencies, allowing them to more efficiently purchase goods and services, source contracts, analyze spend, post bids and transact on a public procurement platform that offers a consumer-like shopping experience. The company is headquartered in Austin, Texas, with a regional office in American Fork, Utah.
The Jackson Walker team representing Periscope in the transaction was led by Brandon Janes, Carlos Treviño, and Jonathan Bryant, and included Chuck Campbell, Raman Dewan, Richard Garza, Ronald Kerridge, Joshua Romero, and Alyca Riley Garrison.
For more information about the sale, view Periscope’s news release.
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