Press Releases

June 5, 2014

Selectica Enters into Agreement to Acquire IASTA

San Mateo, Calif. – June 5, 2014

News Summary

Selectica, Inc. (NASDAQ: SLTC) today announced it has reached a definitive agreement to acquire IASTA, an industry leading SaaS-based sourcing and spend management solutions company focused on providing strategic sourcing, business intelligence, spend analysis, supplier management, and contract management technology to empower procurement and sourcing professionals in mid- to large enterprises worldwide.

News Facts

IASTA is a strategic sourcing software and services leader recognized by:

  • Gartner, Inc.’s Magic Quadrant for Strategic Sourcing Application Suites 2013
  • Forrester Research, Inc.’s Sourcing and Vendor Management Wave 2013
  • Best Places to Work in Indiana 2014
  • Spend Matters Top 50 Providers to Know 2014

Selectica entered into a definitive agreement to acquire IASTA for an aggregate purchase price of 1 million shares of Selectica common stock and $7 million cash. In addition, in connection with the acquisition Selectica would provide grants of options to purchase 700,000 shares of its common stock to the employees of IASTA. The deal is anticipated to close during Q2 of Selectica’s current fiscal year. Lake Street Capital Markets, LLC served as the financial advisor for the transaction.

Signed commitments from Selectica’s existing investors have been secured to fully finance the cash portion of the acquisition price through the purchase of additional shares of our equity at $6.00 per share on an as-converted basis.

IASTA’s audited calendar year 2013 revenues were $11.0 million and operating income of $0.4 million.

IASTA serves more than 120 enterprise customers including digital businesses such as AOL, Bombardier, Brunswick, Cushman & Wakefield, Ciena, Foot Locker, OfficeMax, Glanbia, Endo Pharmaceuticals, Equifax, Westinghouse, VF Corp, FirstGroup, and Centrica.

IASTA was founded in 2000 and is based in Carmel, Indiana; executive team and staff members include more than 60 people focused on strategic sourcing, spend management, and contract management with well-established operations in the United States and London, UK.

The combined Selectica and IASTA customers and partners are anticipated to directly benefit from the acquisition through easier access to contract management, strategic sourcing, spend management, and configuration solutions and market coverage in more locations worldwide.

More information on this announcement can be found at:

Supporting Quotes

“With the acquisition, Selectica truly leverages its expertise in contracting with the addition of IASTA’s market-leading strategic sourcing solution,” said Blaine Mathieu, CEO and President of Selectica. “Selectica’s vision is to provide the platform for enterprises to manage and optimize their business relationships. At the core of all business relationships sits the contract, and vendor/procurement relationships are a critical part of the contract ecosystem. Together, Selectica and IASTA will help customers improve decision making with real-time insights, reduce a wider variety of buy- and sell-side risks, and optimize in ways that drive incremental revenue strategies.”

“As a leader in creating impact with sourcing intelligence and more than a decade of customer success and revenue growth, IASTA’s innovative software and team are a perfect fit for Selectica’s strategy and long term vision,” said David Bush, CEO and founder of IASTA. “I, along with co-founders Todd Epple and Jason Treida, are thrilled to join Selectica to better serve customers and help create a new B2B relationship management platform to address digital business challenges and opportunities in the global enterprise market.”

Forward-looking statements

Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding anticipated synergies relating to the acquisition, business outlook, assessment of market conditions, anticipated financial and operating results, strategies, product and channel development, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to risks to consummating the acquisition of IASTA, challenges in integrating the business of IASTA after closing, fluctuations in demand for company products and services, risks of losing key personnel or customers, protection of the company’s intellectual property and government policies and regulations, including, but not limited to those affecting the company’s industry. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company’s most recent Form 10-K, as supplemented in the company’s most recent Form 10-Q, each as filed by the company with the Securities and Exchange Commission.

Supporting Resources

Determine blog
Determine on LinkedIn
Determine on Twitter
Determine guides & misc. resources

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.

For more information, please visit:


Media Relations:
Rose Lee
Determine Inc.