Jaggaer

"SciQuest" redirects here. Not to be confused with SyQuest.
JAGGAER
Company typePrivate
Nasdaq: SQI
IndustryInternet Software & Services
Founded1995; 29 years ago (1995), in Durham, North Carolina, United States
Headquarters
Durham, North Carolina
,
United States
Number of locations
10
Area served
Global
Key people
  • Andy Hovancik (CEO)
  • Jeff Laborde (CFO)
ProductsSource-to-Pay and Spend Management Software
OwnerCinven
Websitejaggaer.com

JAGGAER, formerly SciQuest, is a provider of cloud-based business automation technology for Business Spend Management. Its headquarters is in Durham, North Carolina and it has offices around the world.[1]

Company history

[edit]

SciQuest was established in 1995 as a B2B eCommerce exchange.The company went public with an IPO in 1999.[2] In 2001, SciQuest transitioned from a B2B exchange company into eProcurement software and supplier enablement platforms. SciQuest was taken private in 2004 and continued to move into eProcurement, inventory management and accounts payable automation. SciQuest completed an IPO in September 2010 raising approximately $57 million.[3][4][5] SciQuest, and its 510 person workforce, was taken private in June 2016 as part of a $509 million acquisition by Accel-KKR, a private equity firm headquartered in Menlo Park, CA.[6][7]

In 2017 SciQuest was rebranded as JAGGAER and announced increased focus on offering a complete, integrated source-to-pay suite.[8][9] Along with the name change, the company expanded its market focus to manufacturing, healthcare, consumer packaged goods, retail, education, life sciences, logistics and the public sector.[10]

JAGGAER acquired the European direct materials procurement specialist Pool4Tool in June 2017 giving it end-to-end direct as well as indirect materials procurement coverage.[11]

JAGGAER acquired spend management company BravoSolution in 2017,[12] and entered into a joint venture with United Arab Emirates-based Tejari.

In February 2019 JAGGAER launched JAGGAER ONE, which unifies its full product suite on a single platform.[13]

In 2019 the UK-based private equity firm Cinven acquired a majority holding in the company.[14] Jim Bureau was subsequently named JAGGAER's Chief Executive Officer. Bureau joined JAGGAER in 2018 and had been responsible for the company's sales and commercial operations.[15] Bureau left the firm in March 2023, and Andy Hovancik was announced as the company's CEO in June.[16]

Product Categories

[edit]

The JAGGAER ONE platform supports the following products:

Acquisitions

[edit]

SciQuest acquired the following companies:[17]

  • AECsoft - January 2011. Provider of supplier management and sourcing technology.[18]
  • Upside Software, Inc. - August 2012. Provider of contract lifecycle management (CLM) solutions.[buzzword][19]
  • Spend Radar, LLC - October 2012, Provider of spend analysis software.[20]
  • CombineNet - September 2013, Provider of advanced sourcing software[21]

JAGGAER acquired the following companies:

  • POOL4TOOL - June 2017, Provider of direct sourcing and supply chain management software[22]
  • BravoSolution - December 2017, Provider of global platform spend management solutions[23]

References

[edit]
  1. ^ "JAGGAER Contact page". 21 April 2024. Retrieved 2 August 2024.
  2. ^ ftp.software.ibm.com
  3. ^ "Exploring e-Procurement Market Trends: No Winner Here". 13 January 2014. Retrieved 11 February 2014.
  4. ^ "SciQuest Shares Surge After $57 Million Software IPO - Bloomberg". Bloomberg. bloomberg.com. 24 September 2010. Retrieved 2014-02-11.
  5. ^ Cowan, Lynn (24 September 2010). "SciQuest Gains 29% in IPO Debut". Wall Street Journal. Retrieved 11 February 2014.
  6. ^ "SciQuest". Business North Carolina. Vol. 36, no. 7. July 2016. p. 29. ISSN 0279-4276. Retrieved 1 July 2023 – via Gale General OneFile (Wikipedia Library).
  7. ^ Bracken, David (June 1, 2016). "Private equity firm buying SciQuest". Business. The News and Observer. pp. A10. Retrieved July 1, 2023.
  8. ^ "SciQuest Rebrands as JAGGAER". Retrieved 20 February 2017.
  9. ^ "SciQuest changes name to JAGGAER". Retrieved 20 February 2017.
  10. ^ "JAGGAER About Us". Retrieved 20 February 2017.
  11. ^ "Jaggaer and Pool4Tool to Merge: The Start of a Trend in Direct Materials Solutions". 5 June 2017. Retrieved 28 October 2019.
  12. ^ "JAGGAER Officially World's Largest Independent Spend Management Solutions Company With Completion Of The Acquisition Of BravoSolution". 28 December 2017. Retrieved 3 April 2018.
  13. ^ "JAGGAER Introduces the JAGGAER ONE Unified Platform to Address Spend Management". Retrieved 25 October 2019.
  14. ^ "Cinven Gets Software Firm Jaggaer Stake in $1.5 Billion Deal". Bloomberg News. Retrieved 25 October 2019.
  15. ^ "JAGGAER names new CEO, creates COO position". 16 October 2019. Retrieved 25 October 2019.
  16. ^ "JAGGAER Announces New Chief Executive Officer, Andy Hovancik". JAGGAER. 6 June 2023. Retrieved 7 June 2023.
  17. ^ "SciQuest Looks Ahead: Product Planning and Acquisition Integration (Part 1)". 19 April 2013. Retrieved 11 February 2014.
  18. ^ "SciQuest Acquires AECSoft -- P2P and Supplier Management Consolidation Accelerates « Spend Matters". spendmatters.com. 21 December 2010. Retrieved 2014-02-11.
  19. ^ "SciQuest Acquires Assets of Upside Software |". paystreamadvisors.com. Retrieved 2014-02-11.
  20. ^ "SciQuest Acquires Assets of Spend Radar (and Rounds Out Its Spend Management Suite)". technologyevaluation.com. Retrieved 2014-02-11.
  21. ^ "Supply Chain News: More Consolidation in the Procurement Software Space, as SciQuest to Acquire CombineNet". scdigest.com. Retrieved 2014-02-11.
  22. ^ "JAGGAER And POOL4TOOL Merge To Offer Only Global Indirect And Direct Spend Solutions Suites". 5 June 2017. Retrieved 10 September 2018.
  23. ^ "JAGGAER Acquires BravoSolution Creating a Powerhouse in Spend Management". Archived from the original on 10 September 2018. Retrieved 10 September 2018.
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