March 18, 2004
Amstelveen, The Netherlands / San Diego, CA. By acquiring the assets of SourcingLink Siennax makes her first move to the USA. The acquisition fits the growth strategy, for which Siennax received additional funding of its shareholders last year. By buying SourcingLink Siennax obtains a new proposition as well as a branch in San Diego.
SourcingLink developed MySourcingCenter, a portal which allows purchase departments of large organizations to optimize their supplier management and product sourcing.
“MySourcingCenter is a proposition that will appeal to purchasers of large corporations.” says Herb Prooy, CEO of Siennax. “The acquisition fits our business development strategy to provision specific e-business solutions on our Utility Platform.” The existing shareholders made available 2,5 millon Euro in June last year to finance Siennax’ growth plans, from which this acquisitions was paid. The new proposition is expected to account for 10% of Siennax’ turnover next year.
By acquiring the assets five of the original SourcingLink employees will become Siennax employees as of this month. It concerns people with indepth knowledge of MySourcingCenter.
The San Diego branch will continue their operation using the Siennax name. MySourcingCenter is being transferred to Siennax’ Utility Platform. Existing users of MySourcingCenter, amongst others Leroy Merlin (a French Home Improvement Retailer with branches in France, Spain, Italy, Portugal, Poland, Brasil, Russia and China) and PETCO (an American Pet Products retailer) have been notified and are serviced as usual.
More information: www.siennax.com/srm
Further Information:
Siennax HQ
Stroombaan 6-8; 1181 VX Amstelveen; the Netherlands
Tel. +31(0)20 547 8000
ari.dijkshoorn@siennax.com