Just a quick note that Accenture has announced that it will buy the Procurian unit of ICG Group (ICGE). Procurian was formerly known as ICG Commerce and had built a nice business in procurement outsourcing. Because ICGE is public and Procurian is separately reported on, it will give us a nice window into the valuations of pure play procurement outsourcing–if anyone cares. I will do the analysis at a later time because I’m not sure anyone does!
ICGE, the parent company, owned most of this business and owns several other SaaS businesses. As a result, it has always been an interesting play in the stock market. In the coming week or so, I’ll cover another one of these odd companies within a company stories. How’s that for a tease?!… film at 11:00!