Perfect Commerce has closed a deal for a controlling stake in Hubwoo SA, a cloud-based spend-management and business-process automation services provider based in Paris.
Perfect Commerce, headquartered in Newport News, Virginia, provides procurement software for enterprises. The combined companies will continue providing sourcing and procurement services.
Hubwoo's clients include BASF (ETR: BAS), Eni (NYSE: E), Shell (NYSE: RDS.A), Evonik Industries (ETR: EVK), Microsoft Corp. (Nasdaq: MSFT), Nationwide Financial, Henkel (ETR: HEN3), Consol Energy (NYSE: CNX), Suramericana, ING (NYSE: ING) and Cemex (NYSE: CX).
Cloud-based software businesses have been attracting dealmaker attention for a while. Recent transactions include Amazon Web Services Inc.'s purchase of Elemental Technologies Inc., and Seagate Technology plc's (Nasdaq: STX) deal for Dot Hill Systems Corp. (Nsadaq: HILL). For more on cloud deals, see Thoma Bravo & Others Bet Big on the Cloud.