18 Sep 2015 Perfect completes the acquisition of Hubwoo
Perfect Commerce announced earlier this week that it has finalized the purchase of Hubwoo. Effective immediately, the combined company aims provide world-class sourcing and procurement solutions to the enterprise and public market sectors for true end-to-end, global spend management.
This transaction has been known about since earlier this summer and, as I understand it, the teams at Perfect and Hubwoo have been planning this merger for quite some time. For although it is technically an acquisition, it is in many respects more like a merger of two very strong and similar businesses. Both are in the supplier network business and their technology platforms are similar. I am told that the technology merger is likely to be straightforward and Perfect expect to be in profit almost immediately.
In their press release issued a few days ago, Perfect claims that this acquisition signifies a substantial milestone in Perfect’s global growth strategy, extending its suite of procurement and sourcing solution capabilities in both vertical and geographical markets.
“The unification of Perfect Commerce and Hubwoo brings together two powerful global companies, both of which have roots in Commerce One, have established a strong global presence, particularly in North America and Europe, and offer a complementary customer portfolio,” said Perfect Commerce CEO, Hampton Wall. “Leveraging Hubwoo’s catalogue management and business network-based process automation capabilities with the strength of Perfect’s source-to-pay applications and solutions will organically create enhanced process automation and savings for our combined customers.”
And it’s good news for Perfect’s and Hubwoo’s customers. Perfect will continue to support Hubwoo clients and partners, as well as augment its technologies, while allowing Hubwoo clients to take advantage of the extensive Perfect Commerce portfolio.
Significant Hubwoo customers include BASF, Eni, Shell, Evonik, Microsoft, Nationwide, Henkel, CONSOL Energy, Suramericana, ING and Cemex. Hubwoo’s global partnerships include SAP, IBM, and TrustWeaver. Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Brussels. “We’re excited to officially join the Perfect Commerce team and have been hard at work combining Hubwoo’s strength’s and capabilities with Perfect’s extensive suite of software and service solutions,” said former Hubwoo CEO, Gregory Mark.
There’s lots more to say about this – the interesting competitive position that Perfect now have in relation to Ariba for example and Perfect’s new data centre in Europe. More to follow on those areas in the coming weeks.
Pete Loughlin can be found on twitter @peteloughlin