MADISON HEIGHTS, MI, December 11, 2014 – Xeeva, Inc., a global provider of next generation, intelligent procurement solutions, today announced that it has acquired Kontextual, Inc., an innovator in social business software. Kontextual was created to help companies build transparent, metric-driven cultures through its platform that combines personalized dashboards, collaboration spaces, and 24/7 virtual status meetings to make it easy to share information across the enterprise.
Together with Xeeva’s source to pay technology, the Kontextual social and business intelligence engine adds compelling social technology capabilities to procurement processes – unlocking significant value through improved visibility and collaboration between procurement, finance, and other key stakeholders in the procurement process.
“We’re excited to join the Xeeva family and add a key new dimension to the company’s industry-leading procurement and financial solutions,” said Kurt Skifstad, founder of Kontextual. “We always envisioned ourselves as an integral part of the broader enterprise software ecosystem. By merging our capabilities into Xeeva’s portfolio, our vision of collaborating around data and increasing information velocity now extends to a broader audience.
“The addition of Kontextual’s technology and team to Xeeva reinforces our commitment to clients to deliver innovation focused on driving results,” said Dilip Dubey, CEO and founder of Xeeva, Inc. “Extending social software into procurement and financial technology is an untapped area and fits squarely into our vision of embedded intelligence as a differentiator in the marketplace.”
Xeeva is driving the development and delivery of the next generation of intelligent cloud procurement and financial solutions for indirect spend. The company’s software suite includes Sourcing, Procure to Pay, Supplier Collaboration, Financial Collaboration, and Extended Enterprise solutions and is used in over 40 countries and available in 18 languages. You can learn more about Xeeva’s focus on driving immediate and sustainable results for its customers by visiting www.xeeva.com.
For Xeeva, Inc.