BidSync Acquired By Periscope Holdings

American Fork, Utah-based BidSync, a developer of cloud-based software for procurement and bidding in the public sector, has been acquired by Periscope Holdings, the companies announced this morning. Financial details of the buy were not disclosed. BidSync will continue to have operations in American Fork. Periscope said that the deal is being supported by private equity partner Parthenon Capital Partners. Fred Tillman, BidSync CIO and interim CEO, will become CIO of the combined company. Periscope was advised by Stephens Inc. in the deal; BidSync was advised by Piper Jaffray & Co., and Parthenon Capital Partners was advised by Kirkland & Ellis LLP in the transaction.