B2B firms merging in $27 million deal
Online marketplace services provider Ventro said Monday it has agreed to purchase privately held NexPrise, a provider of collaborative e-commerce software tools, for about $27 million. Ventro will purchase all of NexPrise's business and obligations with cash, the company said in a statement. The boards of both companies have approved the merger, though the closing of the deal, which is expected to be completed in the third quarter, will be subject to further approval by NexPrise shareholders. Santa Clara, Calif.-based NexPrise builds software that allows businesses to collaborate on e-business transactions and processes like product design and engineering, complex procurement and strategic sourcing, as well as project management.
Online marketplace services provider Ventro said Monday it has agreed to purchase privately held NexPrise, a provider of collaborative e-commerce software tools, for about $27 million. Ventro will purchase all of NexPrise's business and obligations with cash, the company said in a statement. The boards of both companies have approved the merger, though the closing of the deal, which is expected to be completed in the third quarter, will be subject to further approval by NexPrise shareholders. Santa Clara, Calif.-based NexPrise builds software that allows businesses to collaborate on e-business transactions and processes like product design and engineering, complex procurement and strategic sourcing, as well as project management.