Unimarket & VendorPanel announce strategic merger

Unimarket and VendorPanel, both providers of procurement technology solutions, have announced a merger designed to enhance their source-to-pay capabilities.

Unimarket, a globally recognised technology provider specialising in spend management and e-procurement solutions, has merged with VendorPanel, known for its source-to-contract procurement platform. This merger aims to integrate the strengths of both entities to enhance and optimise business processes, with a focus on delivering measurable outcomes for customers globally. Unimarket is backed by Accel-KKR, a firm with a focus on technology investments.

According to market data from Spend Network, global procurement spending is approximately USD $13 trillion annually. This highlights a strong need for improved procurement optimisation to boost efficiency and manage costs effectively. Increasingly, organisations are utilising digital solutions to enhance visibility and control over their procurement processes. This merger is positioned as a response to these growing needs within the procurement sector.

The newly formed company will serve nearly 450 customers across various regions, including the United States, Australia, New Zealand, and Canada. The sectors served encompass corporate, education, healthcare, government, energy, facility management, transport, and utilities.

CEO of Unimarket, Phil Kenney, commented on the merger: "Both companies bring over 15 years of expertise and a proven track record of delivering exceptional results. This merger strengthens Unimarket's ability to meet the evolving needs of our global customers, offering scalable solutions that capitalise on growing market opportunities."

James Leathem, CEO of VendorPanel, also expressed optimism about the merger's potential benefits: "Our merger with Unimarket provides an incredible opportunity to deliver even more value to our customers. Our combined platform delivers a comprehensive solution that enhances visibility and drives operational performance across the entire source-to-pay process."

Phil Cunningham, Managing Director at Accel-KKR, spoke about the merger's strategic significance: "This strategic merger marks a significant milestone for both Unimarket and VendorPanel, reinforcing their leadership in the procurement technology space. With their combined capabilities, these two companies are now poised to capitalise on global growth opportunities, delivering unmatched value to their customers while driving innovation and performance improvements across the source-to-pay ecosystem."

The merger between Unimarket and VendorPanel signals a significant development in the procurement technology space, combining their strengths to offer more comprehensive solutions. As organisations increasingly seek digital tools to improve procurement efficiency and visibility, this partnership positions the newly formed entity to meet evolving industry demands and deliver enhanced value to customers across multiple sectors globally.