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Periscope Holdings Inc. has stated that mdf commerce inc. has agreed to acquire it. With technology and solutions customized to government buyers and suppliers, Periscope is revolutionizing government procurement. It is trusted by 500,000 suppliers and enables government eProcurement in the US.
Periscope Holdings Inc. has announced that it has entered a definitive agreement to be acquired by mdf commerce inc.
The deal will establish a North American eProcurement leader and allow mdf commerce to provide Periscope’s eProcurement solutions to its current Canadian and US government agency customers. Periscope’s present financial sponsor, Parthenon Capital Partners, will remain a stakeholder in the merged business as part of the deal.
Brian Utley, president and CEO of Periscope, said, “Today marks an important milestone in the history of Periscope since I co-founded the company with John Walters in 2001. I am thrilled to join the mdf commerce team.”
“Together, with our combined operational strengths, I am convinced we can accelerate the transformation of the public sector eProcurement industry. mdf commerce shares the same values we do, allowing us to continue the tradition we have for excellent service, deep expertise, and an environment our employees want to be a part of. We are excited for our entire company, including the current leadership team, to continue with the business following the transaction.”Brian Utley, president and CEO of Periscope
Based in Austin, Texas, Periscope changes government procurement through technology and solutions designed specifically for government buyers and suppliers. Periscope Holdings is trusted by 500,000 suppliers and powers more US government eProcurement systems than any other eProcurement provider to eliminate waste and maximize the value of every dollar spent.
Luc Filiatreault, president and CEO of mdf commerce, said, “Periscope will strengthen our leading position in the North American public eProcurement industry. This accelerates our vision to become a leading player enabling the flow of commerce for the B2B and B2G markets.”
“Our growth over the past 20 years has been in no small way directly related to the success of and partnership with our customers. We have always been dedicated to customer success, and this will continue through the coming weeks, months and years. We are proud to provide a comprehensive suite of procurement solutions to public sector buyers and suppliers. This new affiliation with mdf commerce expands our product offerings and the markets into which we can deliver our transformational eProcurement solutions. Since 2014, Parthenon Capital has been a true partner to us throughout this journey. It has been a pleasure working with such a dedicated and strategic team.”Luc Filiatreault, president and CEO of mdf commerce