LONGUEUIL, Que.—Canadian e-commerce solutions provider Mediagrif Interactive Technologies Inc. has entered into a definitive agreement to acquire all of the assets of Advanced Software Concepts, Inc. (ASC) for $18.5 million.
The transaction is subject to standard conditions and is expected to be finalized near the end of May 2016.
ASC, based in Valley Cottage, N.Y., and with a Canadian office in Ottawa, offers contract lifecycle management solutions (CLM) to a diversified clientele, principally in North America.
With this strategic acquisition, Mediagrif will be integrating contract management capabilities to its e-procurement platforms, MERX and BidNet. This will allow Mediagrif to participate aggressively in the fast growing e-procurement space.
Mediagrif said inn a press release that its expertise and financial strength will contribute to accelerate ASC’s presence in the equally fast-growing CLM segment.
Mediagrif Interactive Technologies Inc. is a Canadian information technology company that owns several recognized web and mobile platforms including MERX, InterTrade, BidNet, Carrus, Jobboom, LesPAC and Réseau Contact .