RESEARCH TRIANGLE PARK, N.C., June 05, 2017 (GLOBE NEWSWIRE) -- JAGGAER, Inc., producers of the world's most comprehensive Source to Pay (S2P) spend solutions suite has merged with Europe-based POOL4TOOL, the global leader in electronic optimization for direct procurement. The merger positions JAGGAER as the only eProcurement company with a global footprint that offers complete, end to end indirect and direct spend solutions.
The merger greatly expands JAGGAER’s footprint in Europe, Asia and the Middle East and delivers a global presence for its data centers and customer support. It also adds direct material capability in the North American market. The merger also enables JAGGAER to extend its leading position in higher education to Europe.
POOL4TOOL brings over 300 new clients to JAGGAER. The combined company will deliver products and services to more than 900 organizations. JAGGAER and POOL4TOOL jointly have a strong commercial footprint in the automotive, manufacturing, chemical, pharmaceutical, transportation, retail, life sciences, and consumer packaged goods industries. JAGGAER and POOL4TOOL’s customer base now includes three Fortune 10 companies and 20 Fortune 100 companies processing $65 billion in annual spending across a network of more than 2 million suppliers and more than 2.5 million users.
“POOL4TOOL is the ideal expansion partner for the development of a truly complete, global eProcurement and spend solutions suite, making JAGGAER the only company in the world to offer this depth and breadth of capabilities. POOL4TOOL has been repeatedly cited by analysts as the number one choice in direct material solutions, and brings specialized capabilities to our expansive eProcurement offerings. They complement our vertically focused solutions, particularly in manufacturing,” says Robert Bonavito, CEO, JAGGAER.
“JAGGAER complements our existing client base and the merger will allow us to expand our relationships in North America, particularly with companies that can take advantage of our industry leading bidirectional SAP integration capabilities. Becoming part of a larger organization provides us with access to an incredible opportunity in new markets and allows us to deliver global rollout capabilities for larger organizations. Collectively we will be able to offer added functionality that our customers have been seeking. Our ability to execute on our vision for a truly digital procurement platform has been greatly accelerated because of this merger. Together, JAGGAER and POOL4TOOL fill a significant market gap with complete indirect and direct spend solutions suites,” says, Thomas Dieringer, CEO POOL4TOOL.
POOL4TOOL founder and CEO Thomas Dieringer, and COO Michel Rösch, will continue to operate the company out of its Vienna, Austria offices, while overseeing a staff of 150 based in Europe, Asia and the Middle East.
JAGGAER’s comprehensive and complete spend solutions suite enables commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. JAGGAER holds 38 patents, more than any other eProcurement company. Our solutions suite is trusted by the world's largest higher education, commercial, pharmaceutical and life sciences companies that collectively form a network with billions of dollars in annual spend. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from sourcing to spend analysis, through contract management and AP. Learn how our solutions can power your organization.
POOL4TOOL AG is the global market leader for electronic process optimization in "direct material procurement", with locations in America and Asia and over 300 clients. The only worldwide All-in-One Supply Collaboration Platform brings together all process from product development through strategic procurement (sourcing), supplier management (SRM), indirect procurement (procurement), Supply Chain Management (SCM) up to Quality Management in one workflow-based solution. POOL4TOOL offers best practices from successful projects with global market leaders from the automotive, engineering and equipment construction, serial production and medical technology branches, as well as a unique supplier network with over 500,000 connected companies.