Market Dojo Accelerates Growth with the Completion of Esker Acquiring a Majority Share
British startup Market Dojo revolutionizes procurement standards by offering a 100% cloud eSourcing solution.
Esker Acquires 50.1% of Market Dojo Shares and Voting Rights
Market Dojo, a UK-based SaaS procurement software provider, has announced Esker, a global cloud platform and leader in AI-driven process automation solutions for finance and customer service functions has completed the 50.1% acquisition of the shares and voting rights in Market Dojo effective as of early June 2022, and for the remainder of Market Dojo shares to be acquired after a period expected to be four years.
As part of the acquisition, Market Dojo’s flagship module, Sourcing Dojo, will enable Esker to bring eSourcing into its platform proposition.
Greater opportunities for both organizations and their customers will be available, enabling a rich procurement source-to-pay offering over time.
There is also the potential benefit of Market Dojo’s supplier onboarding and contract management modules enhancing Esker’s proposition to add value to their customers.
Market Dojo will continue to operate as its own business unit, retaining the Market Dojo brand.
However, collaboration and synchronization of product plans will take place. This includes creating synergies between the Market Dojo and Esker solutions with the adoption of Esker’s look and feel as well as building bridges between the solutions to provide a consistent experience with improved usability, in particular for our joint customers.
“We’re excited to become part of Esker,” said Alun Rafique, Co-Founder, and CEO of Market Dojo.
“With Esker’s backing, we can now accelerate our growth plans to enhance our products and address international markets. Thus, helping more organizations who want to create efficiency, enhance their supplier engagement, minimize risks and reduce costs within the sourcing of goods and services. Market Dojo’s solutions combined with Esker’s solutions will create an impressive source-to-pay platform.”
“I am thrilled to welcome the Market Dojo family into our Esker one. Their expertise in the eSourcing space perfectly complements Esker’s procure-to-pay offering,” said Jean-Michel Bérard, CEO of Esker.
“Merging our strengths will create a solid basis for durable and sustained growth.”
To learn more about Market Dojo’s sourcing solution, or how any of their additional supplier engagement solutions can help your business, get in touch with a member of the team today.
About Market Dojo
Market Dojo helps procurement professionals worldwide solve inefficient sourcing and supplier management processes by digitalizing these activities quickly and easily. More flexible and cost-effective than legacy software and more effective than emails and spreadsheets, Market Dojo empowers procurement professionals to control their costs, mitigate risk and centralize data. Unlike other software providers, Market Dojo provides transparent, on-demand pricing and enables the platform to be entirely self-service. With free access, users can make informed decisions before they commit.
About Esker
Esker is a global cloud platform built to unlock strategic value for finance and customer service professionals, and strengthen collaboration between companies by automating the cash conversion cycle. Esker’s solutions incorporate technologies like Artificial Intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers, and internally. Esker operates in North America, Latin America, Europe, and the Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com.
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