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Software behemoth SAP offered $600 million to acquire PE-backed supply chain visibility provider FourKites over a year ago, Axios Pro has learned.

The big picture: End-to-end visibility and process automation have emerged as critical requirements for global supply chains.

What they're saying: "We get inbounds, and we have an opportunity and obligation to look at all the inbounds," CEO Mathew Elenjickal tells Axios Pro, declining to comment on any specific offer.

What's next: "There's nothing happening, at least for the next 12 months," he says.

Inside the room: The company has worked with Centerview Partners to evaluate strategic options, two sources say.

Follow the money: FourKites has raised nearly $300 million from backers including Thomas H. Lee Partners, FedEx Logistics, Zebra Technologies, Volvo Group Venture Capital, Qualcomm Ventures and Basil Capital.

The company last raised a $100 million Series D in 2021. It acquired ocean shipping tracking platform Haven that year and German visibility company NIC-place in 2022. 

How it works: Founded in 2014, FourKites' platform tracks millions of daily shipments across road, rail, ocean and air, delivering predictive insights about delays and operations. 

FourKites has evolved beyond supply chain visibility into enterprise-wide process automation, Elenjickal says.

Its new Loft orchestration platform is built on data from monitoring supplier and carrier networks for Fortune 2000 customers, with specialized agents to automate various functions. 

Between the lines: The supply chain tech sector enjoyed a post-COVID boost as investors poured billions into startups promising to build resiliency and mitigate bottlenecks. 

The market has since seen a pullback amid inflation and waning demand.

Friction point: Would-be acquirers like SAP are grappling with a so-called SaaSpocalypse that has hammered software firms, resulting in more kicking tires than closing deals.

Yes, but: Companies with proprietary data and algorithms are better positioned in the down market. 

Centerview Partners declined to comment. SAP and FourKites' investors did not respond to requests for comment.

Scoop: SAP offered $600M for supply chain visibility platform FourKites

End-to-end visibility and process automation have emerged as critical requirements for global supply chains.

Photo illustration of a neural network brain surrounded by abstract money clip outs, 

Photo illustration: Aïda Amer/Axios. Photo: Joe Sohm/Visions of America/Universal Images Group via Getty Images

Software behemoth SAP offered $600 million to acquire PE-backed supply chain visibility provider FourKites over a year ago, Axios Pro has learned.The big picture: End-to-end visibility and process automation have emerged as critical requirements for global supply chains.

Scoop: SAP offered $600M for supply chain visibility platform FourKites

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