With the recent acquisition of BravoSolution, Jaggaer continues its trajectory of rapid, aggressive growth to contend for the title of the world’s largest spend management solutions company.
The Jaggaer growth story has been interesting to watch. Formerly known as SciQuest, the company’s announcement about BravoSolution needs to be understood in a long line of acquisitions beginning in 2011:
- January 2011: AECsoft (supplier management and sourcing technology)
- August 2012: Upside Software (contract lifecycle management (CLM) solutions
- October 2012: Spend Radar (spend analysis software)
- September 2013: CombineNet (advanced sourcing software)
- June 2017: POOL4TOOL (to add direct material capability and introduce Jaggaer Direct)
- December 2017: Italmobiliare’s BravoSolution.
The company’s press release says the acquisition will effectively render Jaggaer the “largest independent, vertically focused spend management solutions company in the world”. The solution includes advanced spend analytics, complex sourcing, supplier management, contract lifecycle management, savings tracking, and intelligent workflow capabilities.
As a result, Jaggaer will have over 1,850 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East.
Spend Matters reports that this latest move will make Jaggaer “the No. 2 player to SAPAriba in the procurement technology market by revenue”.
A Spend Management “Super Suite”
Robert Bonavito, CEO of Jaggaer, says that the move “creates a powerhouse in the global spend management space and represents the execution of our strategy to build a Super Suite of fully integrated spend management solutions. This acquisition enables the largest companies in the world to do business with a single partner and cover all of their spend management needs. We have best of breed, fully developed solutions for multiple vertical industries delivering value across the full spectrum of spend types. With our size, financial stability, and expanded infrastructure we can further accelerate product innovation and bring customer value across a vast swath of geographies and industries.”
The CEO of BravoSolution, Jim Wetekamp, commented that Jaggaer is “a bold company on an aggressive growth path. The combined entity will deliver greater opportunities for both customers and employees. The combination will allow increased innovation and provide a foundation for procurement digitalisation that will set the trends and benchmarks for the entire industry”.
The language used in the press announcement (“covering all spend management needs” and “full spectrum of spend types”) appears to suggest that with the acquisition of Bravo, Jaggaer’s offering is now complete. But is this the peak of Jaggaer’s rapid growth story? As the dust settles and any remaining gaps begin to emerge, users may get a glimpse of the type of solution Jaggaer intends to acquire next.