Unit4 has entered into a definitive agreement to purchase the vendor of cloud source-to-contract software, Scanmarket allowing it to build on its existing ERP and procure-to-pay (P2P) offerings.
Unit4 CEO Mike Ettling 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 organisations are culturally similar in that we have developed our solutions with users and people at the centre of what we do, so we are excited to welcome the Scanmarket team to Unit4.”
Scanmarket CEO Betina Nygaard 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 recognises the quality and skills of our colleagues. 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.”
