PARIS, June 9, 2015 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading provider of comprehensive spend management and business process automation solutions, today announced that Perfect Commerce S.A., has filed with the AMF an offer to acquire all of its shares outstanding (the "Offer").
Gregory A. Mark, Hubwoo Chairman and CEO commented: "The Offer was unanimously recommended by our Board. The strength of Perfect's Source-to-Pay applications, for both public as well as private sector, combined with Hubwoo's Catalog Management and network based process automation capabilities will be very positive."
"The Offer supports Perfect's continued growth in several key geographies," said Perfect's President and CEO, Hampton Wall. "The Hubwoo customer portfolio is a great complement to our Company, and we are excited to continue to offer Hubwoo customers the same high level of customer service they are accustomed to. The philosophy of putting the customer first is a shared belief between Perfect and Hubwoo, and we look forward to the joined offering that will maximize process automation, savings, and value creation for our combined clientele."
"Beyond expansion to our global footprint, Hubwoo brings advanced functionality in the business network as well as enhanced catalog management and shopping systems. Hubwoo's intellectual property provides great value to the Perfect Commerce eProcurement systems and their business network. A better match does not exist," says Wall.
About Hubwoo (www.hubwoo.com)
Hubwoo connects companies by providing comprehensive spend management and collaborative business process automation solutions for both goods and services, in the cloud, through The Business Network.
Our solutions integrate with any ERP or procurement system, providing our customers with an easy to use solution which drives adoption, compliance and savings.
Significant customers include BASF, Eni, Shell, Evonik, Microsoft, Nationwide, Henkel, CONSOL Energy, Suramericana, ING and Cemex. Hubwoo's global partnerships include GEP, SAP, IBM, and TrustWeaver.
Hubwoo has major operations in Paris, Houston, Chicago, Bonn, London, Manila, and Leuven. Hubwoo is listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP