Enverus, an Austin-based energy SaaS company, acquired Houston's BidOut, specializing in AI-driven procurement.

The acquisition, for an undisclosed amount, will integrate BidOut's sourcing technology with Enverus' platform, enhancing procurement efficiency and supplier management.

With this move, Enverus aims to provide a comprehensive Source-to-Pay solution, optimizing decision-making and reducing costs and time for its energy sector clients.

Founded in 2020, BidOut has rapidly grown, streamlining RFx processes and connecting buyers with multiple suppliers, thus strengthening Enverus' market position.