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VMS provider Provade gets new owner

February 23, 2018

Smart ERP Solutions Inc., provider of cloud-based onboarding platform Smart Onboarding, acquired vendor management system firm Provade Inc.

“Smart Onboarding is a robust platform that complements the key functionalities of Provade’s VMS solution,” Provade President and CEO Hans Bukow said. “We are excited to begin our next phase of growth by leveraging the technologies, resources and customer relationships offered by SmartERP to accelerate the delivery of our innovative cloud solutions and vision.”

The deal closed last week, but terms of the transaction were not announced publicly.

Smart ERP Solutions is based in Pleasanton, Calif., and its Smart Onboarding offering provides an automated onboarding and offboarding solution for employees, contingent workers and vendors.

Plans call for the Provade brand to remain in place.

“We see this as an opportune time for SmartERP to continue to enhance and expand their cloud-based solutions and services offerings, including the Smart Onboarding platform to capitalize on the market’s growth trajectory,” said Prabhu Antony, senior VP of Sett & Lucas, the M&A advisor for the transaction.

Provade, based in Milwaukee, spun off into its own company in a restructuring of the business in 2016, with Provade Cloudware Inc. as its parent company. It had been owned by Dallas-based staffing provider Pinnacle Technical Resources, which acquires Provade in 2011.