Esker, the provider of cloud-based AI-driven process automation solutions for procure-to-pay (P2P), order-to-cash (O2C), and document management processes, yesterday announced is reached an agreement, effective Q1 2022, to acquire a majority control of Market Dojo Limited. The agreement further stipulates that Esker will acquire the remainder of Market Dojo shares after a period of four years. Based in Bristol, England, Market Dojo is a provider of cloud-based procurement solutions with clients in the United Kingdom, United States, EMEA, Asia-Pacific, and the Middle East. When asked about Market Dojo, Esker CEO Jean-Michel Bérard had this to say – “This acquisition provides new growth opportunities in a developing market and strengthens Esker’s positioning in the global P2P arena.”
The Market Dojo solutions was designed to help procurement professionals maximize their sourcing and supplier engagement activities. Market Dojo’s eSourcing cloud solution addresses the need for structured and digitized processes in procurement departments. And, their on-demand solution enables users to centralize information, negotiate better value for goods and services, and select the right suppliers, without complex and costly implementation processes.
“Ardent Partners research has shown that more finance and procurement executives prefer to make holistic, suite-level investments instead of managing a series of one-off solution providers,” said Andrew Bartolini, Founder and Chief Research Officer at Ardent Partners. “Given that, it makes great sense for a best-in-class ePayables provider like Esker to extend their offering with the acquisition of Market Dojo.”
