Unit4, a world leader in enterprise cloud applications for mid-market people-centric organizations, has acquired Scanmarket, a global vendor of cloud Source-to-Contract software. With Scanmarket, a privately-held company founded in 1999 and headquartered in Denmark, Unit4 will now be able to provide organizations with a unified Source-to-Pay journey, building on its existing ERP and Procure-to-Pay (P2P) offerings. Scanmarket’s suite of solutions extends Unit4’s transactional procurement functionality (P2P), with the acquisition bringing additional capabilities in strategic procurement including sourcing, spend analytics, supplier management and contract lifecycle management. As well as supporting Unit4’s growth ambitions, this deal marks a significant investment in the company’s ERP solution, and will enable customers to gain deeper insight into their spend, to manage suppliers and contracts better and realise savings on procurement, with an enhanced customer experience.
Bird & Bird has assisted in Denmark, UK and Netherlands and have worked together with BianchiSchwald in Switzerland and Winston & Strawn in the US on the transaction.
Adam Bastin from Unit4 says: “We have appreciated the cooperation with Bird & Bird, and we have in particular benefited from their deep understanding of tech M&A, the value drivers for tech transactions and not least their cross-border capabilities. Thanks a lot to the entire team at Bird & Bird.”