Cinvent to invest in Jaggaer
Summary
Cinven has agreed to make a “significant” investment in Research Triangle Park, North Carolina-based Jaggaer, a provider of procurement software for large and medium-sized businesses. International private equity firm, Cinven, today announces that it has agreed to a significant investment in Jaggaer, a global provider of procurement software for large and medium-sized enterprises. Through its network of c. 4 million suppliers across 70 countries globally, Jaggaer supports some of the largest commercial, manufacturing and life sciences companies in the world to manage billions of dollars of annual spend. We developed our investment thesis following a subsector review of the global Supply Chain Management software industry, which identified Jaggaer as a highly attractive and market-leading business. “Given the positive underlying return on investment that Jaggaer’s customers are able to generate, we are confident that corporations will continue to find value in partnering with Jaggaer to manage their procurement spend and identify cost savings across their businesses.” Robert Bonavito, CEO of Jaggaer, commented: “Spend management software provides granular, actionable data at all levels, which not only enables accurate profit assessment, but also helps with forecasting.
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