SciQuest to be bought, become private firm
Staff -- Purchasing, 6/3/2004 2:00:00 AM
Sourcing software provider SciQuest has agreed to be acquired by Trinity Ventures for $25.2 million. SciQuest, which provides sourcing software for pharmaceutical and laboratory supplies, will become a private company. It was previously listed on the NASDAQ National Market. "We have experienced significant momentum over the past year and we are extremely proud of what we have accomplished," said Stephen J. Wiehe, president and CEO at SciQuest. "However, with the increasing demands on public companies in today's business climate, this acquisition enables us to become a private company, which is the most effective way to continue that growth and to focus on delivering the most value to our customers."
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