Global spend management and eCommerce solution provider Proactis Holdings has received a “preliminary unsolicited approach” from a US-based investor and a number of expressions of interest from other parties.
The Board of the Wetherby-headquartered company said it “confirms its confidence in the prospects and position of the company as an independent business” but had commenced a “formal sales process” and appointed finnCap Ltd as its financial adviser.
Any party wishing to participate in the process will be required to enter into a non-disclosure agreement with the company.
The company is now understood to be in an offer period. Prolific North reported last August that the software provider expected to more than double its annual profit following the acquisition of Perfect Commerce and contract wins.