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Periscope Holdings Joins Purchasing Solutions Alliance’s Cooperative Contract

National procurement co-op will offer Periscope’s NIGP Consulting Services, NIGP Code, and BuySpeed eProcurement™ to members

AUSTIN, Texas (April 6, 2015) — Periscope Holdings, the leader in purpose-based procurement, today announced its cooperative agreement with the Purchasing Solutions Alliance (PSA) to expand the products and services Periscope offers through PSA to public agencies, education institutes and non-profits.

PSA is a purchasing cooperative for public agencies, including cities, towns, counties, special districts, political subdivisions, K-12, universities/colleges, nonprofit and state agencies. The purpose of PSA is to help members save money on goods and services by identifying qualified vendors, complying with state bidding requirements and relieving the burdens of governmental purchasing by realizing economies of scale.

This cooperative allows PSA’s nationwide membership to contract directly with Periscope for any of its procurement transformation solutions and consulting services. These include NIGP Consulting Services, NIGP Commodity/Service Codes, NIGP Commodity/Service Code and Crosswalks, and BuySpeed™ eProcurement solution. PSA will continue to offer source and contract products from BidSync, which was acquired by Periscope last December.

“Periscope’s purpose-driven procurement expertise is proven to help public-sector and education clients attain remarkable, real-world results,” said Michael Lucas, program manager of PSA. “The PSA/Periscope partnership is an excellent opportunity for co-op members to streamline procurement processes, enhance transparency and discover opportunities for savings and efficiency.”

“We look forward to working with PSA members to continue our promise of purpose-based procurement by eradicating waste and maximizing every dollar spent at each step of the procurement process,” said Brian Utley, CEO of Periscope Holdings.

Membership with PSA is free and is open to all public agencies. Government agencies can implement an Inter-governmental Purchasing Agreement with PSA to utilize Periscope’s contract through the cooperative program. For more information, click here to visit PSA’s source-to-settle cooperative contract page.


Performance-based Contracting

Governing Magazine recently issued an article focusing on How some cities are getting real innovation; good procurement policies, dated July 18, 2014. In the article it states how Barcelona, Italy is increasing competition for city contracts by changing from a design specification approach to a performance based procurement approach. Providing the experts, the business community, an opportunity to develop and propose innovative solutions, for example; reducing bike thefts or detecting potholes. Performance based contracting has been discussed for years, but governments remain in a highly-specification driven framework. Change is difficult, and it may take additional thought leaders or assistance for transformation. NIGP Consulting, with its certified public professionals understands the challenges and has lived the challenges and can assist in each element of the transformation process.


Periscope Acquires BidSync to Form Public Procurement Powerhouse

Austin, TX, December 10, 2014 – Periscope Holdings has acquired BidSync, an industry leader in developing cloud-based procurement and bid notification solutions for the public sector. Periscope’s addition of BidSync creates a true powerhouse in public and higher education procurement. The combined company will retain the name Periscope Holdings. The transaction closed on Monday, December 8, 2014.

BidSync is best known for its eSourcing solutions and for having the largest government bid notification system in North America, enabling suppliers and vendors to identify and respond to more bid opportunities, while Periscope has created a strong reputation in eProcurement, along with being the sole custodian of the NIGP Commodity/Services Code and the NIGP Consulting Program. Both companies are pioneers in the industry and have been instrumental in creating the solutions that have transformed public procurement over the last 15 years.

This acquisition was supported by Periscope’s private equity partner, Parthenon Capital Partners. Through Parthenon Capital Partners, the combined company will have access to strong institutional sponsorship and the growth capital necessary to drive further innovation to ensure it continues to offer the industry’s leading eProcurement and bid notification solutions. Parthenon’s investment recognizes Periscope’s strong history of thought leadership, consistent growth and profitability, and commitment to transforming public procurement. In addition, it will support the combined company’s future operational and product development plans and its drive to remain the leaders in purpose-based procurement.

“Our acquisition of BidSync is incredibly exciting and we are thrilled to bring these two public procurement industry leaders together,” said President and CEO of Periscope Holdings, Brian Utley, who will lead the merged company. “We look forward to continuing to deliver on the promise of purpose-based procurement, which has always been Periscope’s value proposition and reason for existence. I am particularly grateful for our partnership with Parthenon Capital Partners, which allowed us to form a new public procurement powerhouse.“

Periscope Holdings will continue to drive innovation for both the vendor and the agency-side of the business, with a long-term strategy to find efficiencies and new products in the combined company’s offerings. The company’s commitment to innovation and thought leadership will only grow, with a firm resolve to provide the market with the most advanced and comprehensive solutions that transform public and higher education procurement and enhance visibility for the vendor community.

“We are enthusiastic about joining the Periscope team,” said Fred Tillman, BidSync CIO and interim CEO, who becomes the combined company’s CIO. “The combination of these two eProcurement pioneers will have tremendous benefits to our customers and the eProcurement industry as a whole. Not only will this transaction bring together the two industry-leading eProcurement products for the public sector and higher education, but it also will enable BidSync and Periscope to drive further innovations that enable better purchase interactions between agencies and vendors.”

Brian Golson, Managing Partner at Parthenon Capital Partners, said, “We’re thrilled to partner with Brian Utley and the Periscope/BidSync executive team to aggressively grow the company. Periscope is poised to continue to build upon its leadership position in the government and education procurement industry.” Zach Sadek, Principal at the firm, remarked, “We are impressed with the Periscope team and their commitment to their mission of eradicating waste and providing value to every dollar spent. We’re looking forward to assisting the company as it continues to innovate and offer the industry’s leading procurement solutions.”

With the completion of the transaction, BidSync employees join the Periscope Holdings team led by Brian Utley. Periscope is headquartered in Austin, Texas, and BidSync will retain its location in American Fork, Utah.

Stephens Inc. served as exclusive financial advisor to Periscope Holdings on the transaction, and Piper Jaffray & Co. served as exclusive financial advisor to BidSync. Kirkland & Ellis LLP acted as legal advisor to Parthenon Capital Partners in connection with the transaction.

ABOUT PERISCOPE HOLDINGS, INC.
Periscope Holdings, Inc. (http://www.periscopeholdings.com), headquartered in Austin, Texas, is the leader in purpose-based procurement. Periscope eradicates waste and maximizes the value of every dollar spent by our public sector and higher education clients with procurement transformation solutions and services.

Periscope offers an eProcurement software suite, BuySpeed™, holds the exclusive license to maintain, enhance, and market the NIGP Commodity/Services Code, and manages the NIGP Consulting Program, which provides a wide range of procurement transformation services, including procurement strategy development, organizational assessments, relevant benchmarking, process reviews, and strategic sourcing services. Our solutions streamline processes, increase efficiency, decrease expenditures, and create transparency, allowing our clients to focus on achieving their purpose.

ABOUT BIDSYNC
BidSync (www.bidsync.com) offers cloud-based, end-to-end e-procurement solutions that help public sector agencies streamline their procurement process, maintain compliance, reduce costs, enable transparency and save time. The comprehensive solutions deliver cross-functionality through the entire procurement process from request to settle. BidSync also delivers bid notification services to 800,000 vendors nationwide. BidSync has 15 years of experience and its award-winning solutions have been relied on by more than 1,000 public sector agencies nationwide.

ABOUT PARTHENON CAPITAL PARTNERS
Parthenon Capital Partners (www.parthenoncapitalpartners.com) is a leading mid-market private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in business services, financial and insurance services and healthcare, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. Parthenon’s investment team has deep experience in corporate strategy, human capital, capital markets and operations, thereby enabling the firm to pursue complex, multi-faceted value creation opportunities.

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Periscope Holdings Ranked #12 in Austin Business Journal’s Fast 50

Austin, TX, October 23, 2014 – Periscope Holdings, the leader in purpose-based procurement, announced today that it has received the Austin Business Journal’s (ABJ) Fast 50 Award, which recognizes the fastest-growing private companies in Central Texas. Periscope ranked 12th in the $10 million and above revenue category with a 56.3% annual compounded growth rate between 2011-2013.

“Periscope is honored to be recognized by the Austin Business Journal for our revenue growth,” said Brian Utley, President and CEO of Periscope Holdings. “I attribute our rapid growth over the last three years to our steadfast focus on our purpose, which is to eradicate waste and maximize the value of every dollar spent by our public sector and higher education clients. The other unequivocal key to our growth is that we hire the best of the best. Periscope’s team is committed and smart, and they embrace our purpose and values. This recognition is a direct result of the hard work and commitment of each and every member of the Periscope team.”

In order to qualify for the ABJ Fast 50, companies must show dramatic revenue growth over the past three years. Revenue numbers are verified by local accounting firm, Maxwell Locke and Ritter. The rankings were announced by the Austin Business Journal at the ABJ Fast 50 Reception and Awards Presentation on October 16, 2014, at the AT&T Conference Center.

ABOUT PERISCOPE HOLDINGS, INC.
Periscope Holdings, Inc. (http://www.periscopeholdings.com), headquartered in Austin, Texas, is the leader in purpose-based procurement. Periscope eradicates waste and maximizes the value of every dollar spent by our public sector and higher education clients with procurement transformation solutions and services.

Periscope offers an eProcurement software suite, BuySpeed™, holds the exclusive license to maintain, enhance, and market the NIGP Commodity/Services Code, and manages the NIGP Consulting Program, which provides a wide range of procurement transformation services, including procurement strategy development, organizational assessments, relevant benchmarking, process reviews, and strategic sourcing services. Our solutions streamline processes, increase efficiency, decrease expenditures, and create transparency, allowing our clients to focus on achieving their purpose.

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Leading Procurement Practitioner Takes on New Role in NIGP Consulting Program

Austin, TX, February 27, 2014 – Matt Walker, President of NIGP Code and NIGP Consulting Services, announced today that Jean Clark, FNIGP, CPPO, C.P.M., CPPB, CPM, will join NIGP Consulting as its Director of Procurement Transformation Services, effective March 5, 2014.

Clark has been brought on to assume the responsibilities of coordinating, managing, and further expanding the NIGP Consulting program and finding additional avenues to promote its services to public procurement entities. Additionally, she will oversee consultant development and evaluation, quality assurance, and financial management of the program, while participating in project preparation, consultant assignment, and marketing efforts.

“My ongoing mission as a procurement professional is to assist public sector organizations in achieving enhanced efficiency and transparency through procurement operations,” said Clark. “I look forward to continuing fulfillment of this objective through my relationship with NIGP, and I’m thrilled to join the consulting team and have this opportunity to strengthen the program and maximize the effectiveness of its services.”

Clark holds over 30 years of experience in state and local government procurement. Her extensive background covers a broad spectrum of procurement reform services, including inventory management, system automation and implementation, project management, policies and procedures, organizational dynamics, strategic planning, and staff development and leadership. She served as the Chief Procurement Officer at the Arizona State Procurement Office for 10 years before retiring in early 2014.

Other career highlights include a current position as Treasurer of the Universal Public Procurement Certification Council. In 2012, Clark was named Government Public Policy Leader of the Year by the Arizona Capitol Times and earned NIGP’s premier honor to receive the Albert H. Hall Award. Clark was further recognized for her agency’s transformation of procurement practices, garnering the 2011 NIGP Innovation Award for her hard work and support in revolutionizing procurement. Her procurement leadership is further reflected through her former positions as President of the NIGP Board of Directors and President of the National Electronic Commerce Council Board of Directors.

“We at NIGP Consulting understand the unique challenges faced by public entities and are passionate about improving processes and driving cost savings through procurement transformation,” said Walker. “I am confident that having Jean Clark in this new role will play an integral part in achieving the continued growth of this program. She is a true leader in the industry, and we are excited and lucky to have her join us.”

ABOUT NIGP CONSULTING

The NIGP Consulting Program (www.nigp.com) is proven to align business practices to achieve maximum efficiency and effectiveness of procurement operations in the public sector. It provides knowledgeable consulting on procurement strategy, organizational structure and issues, relevant benchmarking, process reviews, and best practices identification. Services include procurement reviews, business process reviews, strategic planning, policy review and development, and organizational/resource assessments.

The program offers an unparalleled level of expertise in the procurement industry. All consultants are certified public procurement professionals and possess an abundance of knowledge and leadership experience through direct roles in procurement. Key NIGP Consulting offerings include reviews and recommendations around: Enabling legislation, organization and staffing, management reporting and forecasting, interdepartmental relationships, benchmarking and best practices, performance evaluation, purchasing policies and procedures, records management, purchasing system/technology preparedness, and project management.

NIGP Consulting clients include the State of Arkansas, the cities of San Antonio, Palo Alto, and North Miami Beach, the counties of Sarasota, Milwaukee, and Lee, the Raleigh-Durham Airport Authority, and the Austin Independent School District.

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