Wednesday, December 10, 2014

Periscope Holdings Buys BidSync, Backed By Private Equity Investor

Austin-based Periscope Holdings, which develops software used by the public sector in procurement, said this morning that it has acquired BidSync, a developer of cloud-based procurement and bidding software. Financial terms of the deal were not announced, however, Periscope Holdings said that it was supported in the deal with an investment from private equity investor Parthenon Capital Partners. BidSync is based in American Fork, Utah. Stephens Inc. served as the financial advisor to Periscope Holdings on the transaction, and Piper Jaffray & Co. was advisor to BidSync; Kirkland & Ellis LLP advised Parthenon Capital Partners in the funding.