Italmobiliare and Accel-KKR, a technology-focused, private equity firm, being the respective majority owners of BravoSolution and Jaggaer, have today finalized the agreement, announced on November 29, to combine companies and create a best-in-class eProcurement group.
Jaggaer acquired BravoSolution and its subsidiaries on the basis of an Enterprise Value of approximately €184 million; simultaneously, Italmobiliare invested €35 million in the newly consolidated combined entity for an ownership interest of 9.5%.
The new group, operating in a fast-growing sector, will provide clients in USA, Europe and in some Asian countries with a complete range of services by combining BravoSolution's B2B sourcing business with Jaggaer’s procure-to-pay (P2P) business.