Unit4 has entered into a definitive agreement to acquire Scanmarket, a global vendor of cloud source-to-contract software.
The acquisition will enable Unit4 to provide organizations with a unified source-to-pay journey while building on its existing ERP and procure-to-pay (P2P), also including sourcing, spend analytics, supplier management and contract lifecycle management.
Scanmarket’s customer base includes Emirates Flight Catering, NatWest, ISS Facility Services, Macmillan Cancer Support and Kärcher.
The deal supports Unit4’s growth ambitions and marks a significant investment in its ERP solution while enabling customers to gain deeper insight into their spend, supplier management and contracts, as well as realize savings on procurement and enhance customer experience.
Mike Ettling, CEO of Unit4, said: “We are delighted to have added Scanmarket to the Unit4 portfolio. 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. As well as a great technology fit, both organizations are culturally similar in that we have developed our solutions with users and people at the center of what we do, so we are excited to welcome the Scanmarket team to Unit4.”
Betina Nygaard, CEO of Scanmarket, said: “Scanmarket is all about people so, when considering this deal, finding a buyer who is a cultural match was of the utmost importance. People-centricity is also key to Unit4 and, not only that, the company shares our core values. Our team has been fundamental in getting us to where we are today, and Unit4 clearly recognizes the quality and skills of our colleagues. In addition, both companies are focused on digitalization and, in the case of Scanmarket, centered on transforming the procurement function through best of breed source-to-contract capabilities while effectively managing governance, risk and compliance.”
Patrick Reymann, International Data Corporation (IDC) research director for procurement and enterprise apps, added: “The Unit4 acquisition of Scanmarket fits perfectly with our hypothesis, consistently reinforced by IDC research data, that customers want procurement solutions as part of full suite ERP offerings. The procurement application space is vibrant and growing, as buyers continually tell us they need help managing their spend data. This combination will provide tremendous value to existing clients, and will give prospective buyers a strong reason to consider the combined Unit4/Scanmarket offering going forward.”
Financial terms of the deal were not disclosed.