mdf commerce to acquire Vendor Registry
MONTRÉAL — mdf commerce inc., an SaaS commerce technology solutions company, has entered into an agreement, through its wholly-owned subsidiary, to acquire Vendor Registry, Inc., a provider of strategic sourcing solutions in the US.
This acquisition aligns well with the five-year strategic plan produced by mdf commerce during fiscal year 2020, the company said.
This acquisition adds close to 400 buyers and 70,000 suppliers nationally to the mdf commerce Strategic Sourcing Platform, strengthening the company’s position in 10 states and expanding its agency client base to 14 new states. mdf commerce also welcomed Chris Van Beke, who will join as vice-president, channel development, strategic sourcing at mdf commerce.
“We are extremely pleased to welcome Vendor Registry into the mdf commerce family,” said Mark Eigenbauer, president, strategic sourcing at mdf commerce. “We are impressed with the presence they have established in recent years and are excited to join forces. Together, our existing strategic sourcing solution and Vendor Registry serve 3,500 agencies and over 300,000 suppliers, with agency clients now covering 42 states. With this acquisition, our Strategic Sourcing solutions will be able to reach new markets and expand our offering, which will benefit both buyers and suppliers.”
The total consideration for the acquisition is US$5.25 million payable in cash, subject to certain purchase price adjustments. The closing of the acquisition is subject to certain standard conditions and is expected to take place on or about November 16, 2020.