Denmark-founded Tradeshift is acquiring IBX Business Network, a division of French IT consultancy Capgemini.
The companies refused to disclose the terms of the deal, which is expected to close in April.
The merger, described as the foundation of a new long-term partnership between Tradeshift and Capgemini, will create the “world’s largest business commerce platform” by adding half a million suppliers and 27 million stock-keeping units (SKUs) to the Tradeshift marketplace.
“e are confident that we'll enable a rapid integration of IBX applications and users to Tradeshift’s platform,” said CEO Christian Lanng.
The company added that it expects to see an increase of more than half a trillion dollars in transacted value over the next 12 months, boosted by activity in China.
“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,” said Aruna Jayanthi, head of Capgemini Business Services. “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.”
The deal marks the Danish company’s third acquisition, picking up Merchantry and Hyper Travel in 2015 and 2016 respectively.
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