Tradeshift Acquires IBX Business Network to Create World’s Largest Business Commerce Platform
SAN FRANCISCO-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 the world’s largest business commerce platform connecting nearly 1.5 million businesses and more than 500 global enterprise customers that have access to the largest 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. Customers will benefit through rapid innovation, which is a top priority in the strategic collaboration between the two companies.
“We started working on a partnership with Tradeshift to complement the IBX platform and address the full source-to-pay needs of our Business Services clients. We realized our cultures were a great fit and that a combined IBX and Tradeshift entity would be the perfect partner for us to go to market with. We look forward to continuing to work with the IBX team we know well and are excited by our new partnership with Tradeshift,” said Aruna Jayanthi, Head of Business Services and member of the Group Executive Committee at Capgemini.
The acquisition will immediately 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 rapidly growing app ecosystem of financial and other services from providers such as Santander and Citibank. Suppliers can also use advanced product information management tools and manage commercial terms on a customer-by-customer basis.
“As the creators of one of the largest European B2B networks, IBX is one of the most experienced source-to-procure teams, and the combination of their ingenuity and experience with Tradeshift technology is a winning strategy,” said Christian Lanng, Co-founder and CEO of Tradeshift. “Further, we are confident that we’ll enable a rapid integration of IBX applications and users to Tradeshift’s platform. We look forward to the IBX team to help accelerate our source-to-pay roadmap to provide our customers with global commerce solutions.”
Customers will now have best-in-class software to address the entire source to payment process, including sourcing, e-invoicing, AP automation, and eProcurement, along with access to global commerce in markets such as China.
“Joining forces with Tradeshift will create the leading business commerce platform and largest real business network in the world. We will be able to offer our customers the most comprehensive market-leading source-to-pay platform,” said Nicklas Brändström, CEO IBX Business Network. “We are very excited to see how we now jointly can offer our customers more innovation, richer content and flexible technology.”
Over the past six years, Tradeshift has experienced phenomenal growth from a startup to a global challenger, disrupting a stale category of supply chain and procurement software. In the process, it has added hundreds of top-tier global brands as customers, including DHL, Air France-KLM, ADM and other world-leading brands across major industries, including manufacturing, finance, automotive, logistics and fashion.
Tradeshift has completed two previous acquisitions and successfully integrated their technologies, employees and customers within the last two years. Similarly, its flexible and agile platform will enable the seamless integration of IBX Business Network.
The transaction is expected to fully close in April 2017.