Cloud enterprise software provider Unit4 has acquired Scanmarket, a global vendor of cloud Source-to-Contract software.
Founded in 1999, Scanmarket is a privately-held company headquartered in Denmark. Through the acquisition, Unit4 said it aims to provide organisations with a unified Source-to-Pay journey, building on its existing ERP and Procure-to-Pay (P2P) offerings.
The deal extends Unit4’s transactional procurement functionality (P2P), bringing additional capabilities in strategic procurement including sourcing, spend analytics, supplier management and contract lifecycle management.
“We are delighted to have added Scanmarket to the Unit4 portfolio,” said Mike Ettling, CEO, Unit4. “Their market-leading global strategic procurement capabilities and cloud-based solutions are trusted by 324 customers, across more than 85 countries, and have received strong recognition from industry analysts, such as Gartner, Info-Tech Research Group and SpendMatters.”
Scanmarket’s customers include Emirates Flight Catering, NatWest, ISS Facility Services, MacMillan Cancer Support and Kärcher.
“In addition, both companies are focused on digitalisation and, in the case of Scanmarket, centred on transforming the procurement function through best of breed source-to-contract capabilities while effectively managing governance, risk and compliance.” added Betina Nygaard, CEO of Scanmarket. “The combination of Unit4 and Scanmarket will deliver a comprehensive Source-to-Pay solution and bring added value for midmarket and enterprise organisations across both upstream and downstream procurement. ”
Terms of the deal were not disclosed, but Unit4 said the agreement marks a significant investment in the company’s ERP solution.
