- Commerce technology company mdf commerce (MDF) has completed the transaction to acquire U.S. business Vendor Registry
- Vendor Registry provides strategic sourcing solutions to over 400 public agencies and over 70,000 vendors in the US
- The acquisition will add these buyers and suppliers to mdf commerce’s Strategic Sourcing platform, and strengthen its US presence
- The company paid total consideration of approximately C$6.86 million in cash for the acquisition of Vendor Registry
- Mdf commerce is up 1.63 per cent and is currently trading for $9.33 per share
Commerce technology company mdf commerce (MDF) has completed the transaction to acquire U.S. business Vendor Registry.
Based in Knoxville, Tennessee, Vendor Registry provides strategic sourcing solutions. Its clients include over 400 public agencies and over 70,000 vendors in the United States.
By streamlining the purchasing process for cities, counties, utilities, higher education, and school boards, Vendor Registry is able to generate new revenues for vendors and suppliers. It is also able to decrease costs for government and institutional purchasing departments.
Mdf commerce entered an agreement, through its wholly owned subsidiary, to acquire most of the assets of Vendor Registry earlier this month. The company paid total consideration of approximately C$6.86 million in cash for the acquisition.
The acquisition had added roughly 400 buyers and 70,000 suppliers to mdf commerce’s Strategic Sourcing platform. This has strengthened the company’s presence in 10 US states, and expanded its agency client base in 14 new states.
Mdf commerce’s President of Strategic Sourcing, Mark Eigenbauer, was extremely pleased to welcome Vendor Registry into the mdf commerce family.
“We are impressed with the presence they have established in recent years, and are excited to join forces,” he said.
“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,” he added.
Mark went on to say that, with this acquisition, the company will be able to reach new markets and expand its current offerings.
Mdf commerce is up 1.63 per cent and is trading for $9.33 per share, as of 11:46am EST.