New Jersey Company to Acquire Determine

Posted: Updated:
CARMEL -

New Jersey-based Corcentric Inc. has announced plans to acquire Determine Inc., headquartered in Carmel. The company, which specializes in procurement and finance solutions for a variety of industries, says the $32 million deal is expected to close in the second quarter. Determine was originally based in Silicon Valley, but in June 2016 announced plans to relocate its global headquarters to the Hamilton County city. 

Determine is a tech company whose cloud-based platform provides supplier, contract and financial performance analytics for procurement, legal and finance professionals, according to its website. Matt Clark, chief operating officer of Corcentric, calls the acquisition synergistic and transformative for the company.

"We’ve followed the Determine Cloud Platform development for some time and are excited by the prospect of adding its robust capabilities, along with the collective Determine team’s business experience, to the Corcentric family," Clark said in a news release. "We believe blending Determine with Corcentric gives the newly-combined company an opportunity to deliver more value to our customers and prospects, and it increases our global market footprint so we will have the opportunity serve an expanded base."

The acquisition has been approved by the boards of directors for both companies. Corcentric says the deal remains subject to various approvals, including from Determine's stockholders. 

Corcentric did not say whether any jobs would be affected by the deal.

In December, Determine was delisted from The Nasdaq Stock Market after being found non-compliant two months prior. The company has reported a net loss in each quarter since relocating to Carmel.

  • Perspectives

    • Indiana's Regrettable Struggle to Pass Hate Crime Legislation

      It shouldn’t be this hard. The Senate’s Public Policy Committee voted 9-1 in favor of SB-12 this week, a bill that would have codified (as written) hate crime bias to include protections for race, religion, color, sex, gender identity, disability, national origin, ancestry, sexual orientation, and age. SB-12 then made its way to the full Senate. Preceded by a lengthy deliberation by the Senate’s Republican caucus, the Senate voted 33-16 in favor of a watered-down...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Picture Courtesy: Ratio Architects

      Hilton Bringing New Hotel Brand to Indy

      Hilton (NYSE: HLT) has chosen Indianapolis as one of three markets where it will roll out its new Signia Hilton brand. The hospitality company says Signia Hilton will target meeting professionals and business travelers hosting and attending large events. The 800-room Signia Hilton will be the larger of the two hotel towers planned for the Pan Am Plaza site as part of a $120 million Indiana Convention Center expansion. Visit Indy Senior Vice President Chris Gahl expects...

    • Rolls-Royce to Make Indy Jobs Announcement

      Rolls-Royce Corp. in Indianapolis will Monday make an announcement about a new campaign and jobs. Few details were provided, however the company says the announcement will involve a new U.S. defense engine program.

    • (image courtesy WTHR-TV)

      Governor Holcomb Launches Next Level Broadband Program

      Governor Eric Holcomb has launched a program dedicating $100 million to bring broadband to rural areas of the state. The Next Level Broadband Program will be overseen by Lt. Governor Suzanne Crouch and the Indiana Office of Community and Rural Affairs. The Indiana Department of Transportation will administer grants and provide technical support.  

    • Hoosier Hospitals Make Top 100 Lists

      Several Indiana hospitals are included in two lists from The Chartis Center for Rural Health that feature the top 100 critical access hospitals and rural and community hospitals. The healthcare advisory services and analytics company says the lists are based on the results of the Hospital Strength Index from iVantage Health Analytics, which provides a "comprehensive and objective assessment of rural provider performance." The Chartis Center says the hospitals that make...
    • Indiana's Regrettable Struggle to Pass Hate Crime Legislation

      It shouldn’t be this hard. The Senate’s Public Policy Committee voted 9-1 in favor of SB-12 this week, a bill that would have codified (as written) hate crime bias to include protections for race, religion, color, sex, gender identity, disability, national origin, ancestry, sexual orientation, and age. SB-12 then made its way to the full Senate. Preceded by a lengthy deliberation by the Senate’s Republican caucus, the Senate voted 33-16 in favor of a watered-down...