Pinnacle Technical Resources Acquires Provade

Forms World's Largest Minority-Owned Enterprise VMS

DALLAS, TX and SAN MATEO, CA, Oct. 3, 2011Pinnacle Technical Resources, one of the largest woman/minority owned staffing and workforce solutions companies in the U.S., today announces the acquisition of Provade, Inc., a Silicon Valley-based Vendor Management System (VMS) technology company. The Pinnacle-Provade union offers an unprecedented combination that does not exist in the VMS marketplace today.

Provade will continue to operate as a separate entity under Pinnacle’s ownership and will maintain its relationship with Oracle in the VMS space under the Business Process Outsourcing (BPO) program at Oracle. Provade, delivers an enterprise VMS, serves corporations and organizations in more than 40 countries in numerous languages and currencies, with billions of dollars in spend under management. Together, Pinnacle and Provade offer the Oracle-based VMS solution that natively integrates with Oracle Procure-to-Pay (P2P) systems.

Nina Vaca-Humrichouse will continue to serve as Chairman and CEO of Pinnacle.  Edward Jackson will remain President of Provade.

Vaca-Humrichouse, who founded Pinnacle Technical Resources, has led the company to become one of the staffing industry’s fastest-growing firms in the nation.  In addition, Pinnacle has garnered numerous awards, including the coveted Ernst & Young’s Entrepreneur of the Year as well as being named to the Inc. 500/5000 list of the nation’s fastest-growing companies for seven consecutive years. Vaca-Humrichouse currently serves as the Chairman of the Board of the United States Hispanic Chamber of Commerce.

“We look forward to continuing our trajectory of growth and Provade is an important addition to our organization. We recognized the tremendous value inherent in the relationship Provade has forged with Oracle. For the companies who rely on Oracle as their core global Enterprise Resource Planning (ERP) solution, Provade delivers an efficient and strategic advantage over the competition,” Vaca-Humrichouse said.

The executives emphasized the importance of Provade’s current business partners. “We look forward to continuing the long-standing relationships with our strategic managed service provider (MSP) partners and enhancing their value propositions to their end clients,” Jackson said.

“Joining Pinnacle, with its outstanding brand recognition, reputation, industry leadership and financial strength, positions Provade to make a tremendously significant impact on the market and enhances our go-to-market strategy,” Jackson added. “We will continue to make material investments in product development and global expansion.”

About Pinnacle Technical Resources

Pinnacle is a staffing and managed services firm that recruits and manages contingent labor for a broad variety of Fortune 500 corporations in the financial services, transportation, communications and healthcare industries. Pinnacle’s 4,000 consultants serve clients across North America and Canada. The firm’s services include staff augmentation, supplier management, payrolling and independent contractor (IC) compliance. In 2011 Pinnacle was honored as the country's top minority-owned firm by the National Minority Supplier Development Council (NMSDC). Pinnacle is a member of Women’s Business Enterprise National Council (WBENC) and the United States Hispanic Chamber of Commerce (USHCC). For more information, visit us at www.pinnacle1.com.

About Provade

Provade, Inc. delivers the only enterprise Vendor Management System (VMS) for global workforce spend management. Provade VMS is built entirely upon an Oracle application platform and Provade is currently the only Oracle VMS partner in its “BPO powered by Oracle” program. Provade’s Software as a Service (SaaS) solution helps businesses achieve efficiency and measurable savings in their staffing, statement of work (SOW) and services spend. Leveraging best in class technology, Provade VMS delivers business process flexibility, robust analytics and complete integration with ERP systems. For more information, visit www.provade.com.

Provade is a Gold level member in Oracle PartnerNetwork (OPN).

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates.