Cyberplex has agreed to acquire ProCure.com, an application
service provider (ASP).
ProCure is a wholly owned subsidiary of Livingston Group, specializing in
designing and operating customized e-business solutions that enable
businesses to effectively manage orders using Internet technologies.
ProCure delivers a customizable, integrated, end-to-end order management
service that allows businesses to create a single order receiving process.
Under the terms of the deal, Cyberplex will acquire ProCure for
approximately $33 million — $3 million in cash, $15 million in a promissory
note bearing interest at prime, and the balance in Cyberplex common shares.
ProCure.com will be a wholly owned subsidiary of Cyberplex Inc. and will
operate as a separate business unit. The acquisition will add another 20
employees to the current 300-strong Cyberplex staff.
“We’re excited about the explosion of B2B marketplaces and the demand that
this creates for ProCure.com’s solutions,” said Dean Hopkins, Cyberplex
chief executive officer. “We are confident the combination of talents from
both ProCure and Cyberplex will create one of the next great B2B companies.”