Is PurchasePro out of business?
A PurchasePro is in the process of merging with Perfect Commerce and will continue to meet its current obligations to its buyers and suppliers. Below is an excerpt of a recent PurchasePro press release: Richard L. Clemmer, PurchasePro’s president and chief executive officer, said, “The cost of doing business as a public company has increased significantly over the past year. After reviewing many of the options available, as well as the opportunity presented by Perfect Commerce, PurchasePro concluded that the terms of the acquisition and subsequent filing were necessary to preserve the assets and values of PurchasePro’s business and to protect the interest of the company.” Mr. Clemmer pointed out that, “Perfect Commerce’s backing from major investors including some of the world’s premiere venture capitalists should give our current and prospective customers confidence that our solution and platform will continue to be available. We are looking forward to completing the transaction wi
