M&A Deal Summary

Simfoni Acquires EC Sourcing

On January 10, 2022, Simfoni acquired information technology company EC Sourcing

Acquisition Highlights
  • This is Simfoni’s 1st transaction in the Information Technology sector.
  • This is Simfoni’s 1st transaction in the United States.
  • This is Simfoni’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2022-01-10
Target EC Sourcing
Sector Information Technology
Buyer(s) Simfoni
Deal Type Add-on Acquisition

Target

EC Sourcing

Morristown, New Jersey, United States
EC Sourcing is a global procurement technology solutions provider comprised of former sourcing & procurement veterans. Recognized for its robust sourcing-centric functionality and practical ease of use with any existing technologies. EC Sourcing was founded in 2001 and is based in Morristown, New Jersey.

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Buyer(S) 1

Buyer

Simfoni

Al Maryah lsland, United Arab Emirates
Category Company
Sector Software
DESCRIPTION

Simfoni provides Spend Analytics and Spend Automation products to leading global enterprises. The Simfoni platform utilizes machine learning and artificial intelligence to accelerate and automate key aspects of the procurement process, saving customers time and money and paving the way toward supply chain sustainability. Simfoni is based in Al Maryah Island, United Arab Emirates.

DEAL STATS #
Overall 1 of 2
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 1 of 2
Year (2022) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Xeeva

Southfield, Michigan, United States

Xeeva is a provider of intelligent cloud-based procurement software and financial solutions for indirect spend and MRO. Used in over 45 countries and available in 18 languages, their software suite automates the source-to-pay process with open communication for e-invoicing, procurement, and sourcing. Xeeva was founded in 2014 and is based in Southfield, Michigan.

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