Procurement software developer Jaggaer gets a new owner
Summary
Jaggaer, one of the largest and most established application developers and service providers for procurement management systems, has a new owner. In May, Reuters reported that Cinven was seeking a deal valued at $3 billion including debt to sell Jaggaer. In addition, Reuters reported that Jaggaer generates annual revenue of about $300 million. “Jaggaer’s products serve a large addressable market benefiting from durable growth tailwinds, including customers’ increasing desire to unify direct and indirect spend management and realize the benefits of AI,” said Michael Fosnaugh, co-head of Vista’s flagship fund and senior managing director “Jaggaer is well-positioned to capitalize on these demand trends given its leading capabilities across source-to-pay workflows.” Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected].