Tradeshift signs deal to acquire IBX Business Network

Thursday 9 March 2017 10:53 CET | News

Tradeshift and Capgemini have entered into an agreement under which Tradeshift will acquire Capgemini’s IBX Business Network.

The combination of Tradeshift and IBX will create a business commerce platform connecting nearly 1.5 million businesses and more than 500 global enterprise customers that have access to the supply-chain app ecosystem. With the acquisition, Tradeshift’s business commerce platform is projected to see an increase in transacted value to more than half a trillion dollars over the next 12 months, which includes recent growth in China and other new markets.

The deal forms the foundation of a new long-term partnership between Capgemini and Tradeshift focusing on source-to-pay and supplier platform business.

The acquisition will bolster the Tradeshift marketplace with the addition of over half a million suppliers and 27 million stock-keeping units (SKUs). The marketplace connects buyers and suppliers to trade on cloud-based private and public B2B marketplaces across borders and spend categories. Suppliers can grow their businesses with access to more than 500 enterprise customers’ global buying power and to a growing app ecosystem of financial and other services from providers such as Santander and Citibank. Suppliers can also use product information management tools and manage commercial terms on a customer-by-customer basis.

Customers will now have a software to address the entire source to payment process, including sourcing, e-invoicing, AP automation, and e-procurement, along with access to global commerce in markets such as China. The transaction is expected to fully close in April 2017.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Tradeshift, Capgemini, IBX Business Network, e-invoicing, e-procurement, B2B
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech