Keystone Law has assisted Priory Solutions in its sale to The Roberts Group, the leading provider of subscription spend management software.
Priory Solutions provides software that helps enterprises manage access, streamline workflow, and track usage of their online research, data and information services. Combined, the company will be known as TRG and will be headquartered in New York with offices in Minneapolis and Washington, D.C, London, Auckland and San Jose. Meanwhile, the new platform will provide global clients with market leading capabilities to manage the full lifecycle of their data and research subscription needs – contracting, provisioning, usage monitoring, request tracking, billing and renewal analytics.
The acquisition, coupled with the upcoming major release of FITS 4, demonstrates the Company's commitment and focus on product innovation since Boston-based Polaris Partners invested in the company in 2014.
Peter Borchers, Managing Director of Priory Solutions, who joins TRG's executive team, commented:
"We are excited about joining the TRG family and collaborating on the next chapter of Priory's growth. I have been consistently impressed by the similar cultural values and deep commitment to service and innovation that the companies share. The combined scale of the business will afford tremendous opportunities for us to continue that mission on behalf of our customers and employees."
“It was a pleasure to work with such a dedicated and professional management team, as well as the purchasing team, that together sought pragmatic solutions to the inevitable challenges that arise in cross-border transactions such as this - an immediately great fit for the clients, too, which supports both the valuation and the long term prospects for the combined company”