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March 30, 2015

Selectica Enters into an Agreement to Acquire b-pack

Acquisition will extend Selectica’s product suite and global business footprint with the addition of a world-class SaaS purchase-to-pay solution

San Mateo, Calif. – March 30, 2015

News Summary

Selectica, Inc. (NASDAQ: SLTC) today announced it has entered into a definitive agreement to acquire b-pack, a global leader in purchase-to-pay (P2P) software and services, for approximately $12.5 million in cash and stock. Complementing Selectica’s offerings and go-to-market strategy, b-pack delivers solutions in eProcurement, Purchase to Pay, Asset Management, Budget Management, Invoice Management, and Expense Management.  b-pack has more than 14 years of expertise and innovation in implementing flexible solutions that address organizations’ critical procurement processes and requirements.

“I am excited about the opportunity to join with industry leader b-pack, extending our product portfolio; enhancing our global footprint – particularly in mainland Europe where b-pack has a strong market presence; and expanding the solid team of professionals we have working to serve our clients,” said Blaine Mathieu, President and CEO of Selectica. “It has long been our goal to enhance our enterprise CLM and supply management solutions to include best-in-class procure-to-pay applications. With b-pack joining the Selectica family, we believe this objective will be achieved.”

“This is a great opportunity to build a global industry leader by combining our different solutions in the cloud and extending our capabilities to serve our clients in many countries. We expect to bring tremendous value to the market by sharing very strong business and technology expertise and to consolidate our long-term strategy with our 350+ joint customers,” said Julien Nadaud, CEO and founder of b-pack. “We have been looking for the right fit to enable b-pack to quickly move to the next level, and we expect Selectica will prove to be the perfect choice.”

Transaction Highlights

  • Selectica intends to pay approximately 90% of the purchase price in Selectica stock (calculated at a fixed price of $6.11 per share, resulting in 1,841,244 shares of common stock to be issued) and 10% in cash. In connection with the acquisition, Selectica will also grant options to purchase 700,000 shares of its common stock to the employees of b-pack.
  • The transaction is currently expected to close during Q1 of Selectica’s fiscal year 2016, which ends June 30, 2015.
  • Needham & Company, LLC served as the financial advisor for the transaction.
  • b-pack’s revenue for calendar 2014 is approximately $4 to $5 million, based upon its preliminary, unaudited financials. It has historically grown in the low double-digits overall, with its SaaS business having grown much faster. A majority of its revenue is currently generated from customers located in mainland Europe, while its U.S. market presence has been building in the last 3 years since opening their U.S. and corporate headquarters in Atlanta, Georgia.
  • Gartner ranks b-pack as a visionary in the 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement citing its highly configurable workflow and overall platform; strong out-of-the-box P2P functionality; ease of upgrade and mobile device support.
  • b-pack’s solutions are currently deployed with more than 100 global customers including McDonald’s, Dannon, Renault-Nissan, Yves Saint Laurent, Gucci, and Aon to name a few. You can visit the b-pack customer listing for more information.
  • Following the close of this transaction, Selectica will have over 350 global customers and partners, who will be able to leverage a full suite of supply management applications for the enterprise, including end-to-end upstream and downstream procurement capabilities integrated with contract lifecycle management.
  • Founded in 2000, b-pack has its corporate headquarters in Atlanta, Georgia and operations in Aix-en-Provence near Marseille, France.  Its executive team and staff members include approximately 50 people.

More information about this announcement can be found here.

Conference Call Details

Selectica will be holding a call at 9:30 am (PDT) / 12:30 pm (EDT) on Monday, March 30, 2015 to discuss this acquisition in more detail and answer questions. To access the call, please use the numbers below:

Live Participant Conference Call Numbers:

Toll-Free: 1-877-407-0789
Toll/International: 1-201-689-8562
Live Webcast Link:

Replay Dial-in Info:

Toll-Free: 1-877-870-5176
Toll/International: 1-858-384-5517

From: 03/30/15 @ 3:30 pm (EDT)
To: 04/13/15 @ 11:59 pm (EDT)
Replay Pin Number: 13605685

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About Determine, Inc.

Determine (NASDAQ: DTRM) is a provider of leading enterprise cloud software solutions with over four decades of collective technical and process knowledge in the areas of strategic sourcing, enterprise contract lifecycle management, and procure to pay solutions. We provide the next generation of agile, enterprise cloud solutions for managing the needs of modern business. Using our intuitive applications, organizations can effectively manage the full scope of source to pay and enterprise contract lifecycle management requirements using the Determine platform.

The Determine platform is an open technology infrastructure based on smart process application models. The goal of our platform is to establish awareness of relevant data, manage business documents, embed analytical tools, create a means for collaboration, and provide advanced process management tools for fully integrating business processes through an open API infrastructure. Built on a unified and highly scalable platform, we deliver deep and innovative capabilities in strategic sourcing, supplier management, enterprise contract lifecycle management, e-procurement, invoicing, and other business operation areas.

In addition to our source to pay and enterprise contract lifecycle management solutions suite, we also provide a powerful, patented configuration engine solution, which Global 1000 companies use to increase revenue by facilitating the right combination of products, services, and price.

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Media Relations:
Rose Lee
Determine Inc.

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