Periscope Holdings, a provider of procure-to-pay and supplier management solutions to the public sector, has been acquired by mdf commerce, a provider of SaaS commerce solutions, for about $207.3 million (USD), according to a press release.
The Canadian B2B and business-to-government firm mdf commerce has beefed up its North American presence by buying Periscope, the 20-year-old B2G commerce giant that operates out of Austin, Texas and Utah.
Periscope’s business model offers both SaaS subscriptions as well as a transaction fee solution. With its consulting practice and solutions, it serves a range of government entities, like states, municipalities, special districts and universities.
The combined companies said they expect to serve more than 6,000 agencies with about 500,000 active suppliers.
They said they are “well-positioned to capitalize on governments’ critical need to rapidly digitize procurement workflows, as well as on massive increases in government spending arising from the approximately $1 trillion U.S. infrastructure spending bill,” which the US Senate approved this week.
Read this rapid analysis to understand more about public-sector procurement spending and technology TAM estimate (US, Europe, and Global Market Analysis), the tech considerations (vs. the private sector) and the public procurement competitive landscape for North America and Europe.