Navidar Advises Directworks in Its Sale to Ivalua

CLEVELAND, OH – Navidar is pleased to announce that our client, Directworks, Inc., has been acquired by Ivalua Inc., a global leader in Cloud Spend Management. Located in the heart of Silicon Valley, Ivalua’s leading global Spend Management Cloud solution is recognized for Leadership in Gartner’s Magic Quadrant for Strategic Sourcing and Spend Matters SolutionMap for Procure-to-Pay in 2017. Ivalua’s out-of-the-box Deep Functionality and Configurable Cloud is fast to deploy and enables high supplier and employee adoption.

Directworks, located in Pittsburgh, PA, provides a better way for highly engineered product manufacturers to work collaboratively across teams and with suppliers to develop, launch and deliver more profitable products. Leading manufacturers use Directworks’ cloud-based platform to more effectively engage stakeholders and suppliers and achieve greater product success.

”Navidar’s deep understanding of SaaS software, their ability to manage the process, and their continuous dedication enabled us to attain a successful outcome with Ivalua,” said Michele Myers, President of Directworks. “Navidar’s presence in and focus on Pittsburgh is a real asset for the city’s technology community.”

”It was great working with a company like Directworks which developed a market leading direct materials sourcing SaaS solution,” said Mark Weisman, Managing Director at Navidar. “The combination of Directworks and Ivalua highlights the dynamic technology ecosystem in Pittsburgh and the strong pool of technology talent in the city.”

About Navidar

Navidar Holdco LLC, with a presence in Austin, Atlanta, Cleveland, Dallas, Denver, Indianapolis, Minneapolis and San Antonio, is an investment banking firm that provides businesses and investors in dynamic industries with strategic merger and acquisition advice, capital raising solutions and corporate advisory services. The firm focuses on SaaS software, eCommerce & Internet, IT and engineering services, specialty manufacturing, and health care information technology companies. Navidar principals have completed more than 300 transactions representing transaction volume of nearly $70 billion in M&A and capital raising, for both private and public companies, over the past 20 years. Navidar Group LLC, a wholly owned subsidiary, is a broker-dealer that is registered with FINRA and SIPC. To learn more about Navidar, please visit www.navidar.com.