CARY, N.C. – SciQuest, Inc., (NASDAQ: SQI) acquired Upside Software, Inc. on Wednesday in a $22 million cash deal, according regulatory filings.

Upside’s award winning product suite offers a fully-automated contract lifecycle management solution, which includes collaborative contract creation and negotiation technology. It also includes performance, compliance and deliverables management as well as on-going event monitoring and management.

The entire suite also is overlaid with extensive security and business intelligence features.

“We are excited to build on our strategy to provide a comprehensive source-to-settle solution suite with the addition of Upside’s industry-leading technology platform,” said Stephen Wiehe, president and CEO of SciQuest.

This acquisition deepens SciQuest’s offerings in contract lifecycle management, an important aspect of a complete source-to-settle solution.

SciQuest anticipates that the transaction to close within two weeks.