Swedish software company Trade Extensions has been purchased by the US company Coupa Software for $45 million.

Trade Extensions was founded by a Swedish mathematician, and specializes in strategic sourcing and optimization of algorithms. The company has experienced around 20-30 percent growth annually since its founding in 2000. Its customers include Maersk, P & G, Tesco, BP and Unilever.

Coupa Software is a spending management platform for businesses. It was founded in 2006, and went public in autumn 2016 on the Nasdaq exchange. It's market value as listed at $1.27 billion.

Read more: Di Digital

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