Today has been a very eventful day. This morning we announced WebSpy’s proposed acquisition of procurement and materials management system provider, Marketboomer. Ever since we let the news slip there has been a steady stream of phone calls, emails and tweets.
So, who is Marketboomer and why has WebSpy proposed to acquire them?
Marketboomer provides supply chain management software to help businesses (such as InterContinental Hotel Group, Emirates Airline Catering, Hyatt and more) take cost out of their supply chain. The solution enables businesses to trade with each other more effectively using the Internet, allowing purchasers to buy from suppliers at the best possible price at a given point in time, and by improving processes. Marketboomer typically reduces clients’ procurements costs by between 8 and 20%, and additionally creates process savings and efficiencies of 20% or more within the procurement function.
The acquisition is great news for all stakeholders and will provide significant synergy benefits and strategic expansion opportunities. Marketboomer’s software is highly complementary to WebSpy’s, in the areas of cost management and productivity improvement, and its customer base represents a strategic and natural market for WebSpy’s software. Both WebSpy and Marketboomer products are B2B, based around Internet and large data manipulation, and can be applied to any industry sector and any size business.
The acquisition will also enable WebSpy to gain additional operational and development capability in Europe, the Middle East, China and South East Asia. The Marketboomer Group has established marketing presence in Australia, Ireland, China, Indonesia, Thailand, Saudi Arabia, the UAE and Singapore. These additional marketing centers will strengthen WebSpy’s own marketing resources. WebSpy on the other hand has been operating in the United States for nearly 10 years and will be able to assist Marketboomer’s entry into the region.
The proposed acquisition needs to be approved by shareholders, more information at: www.webspy.com/newsroom/announcements/Marketboomer-Acquisition.pdf
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