ChannelLife New Zealand logo
Industry insider news for New Zealand's technology resellers
Story image

Esker to acquire majority stake in Market Dojo, enhancing its procure-to-pay suite

By Ryan Morris-Reade
Fri 7 Jan 2022

Esker, a global cloud platform and AI-driven process automation solutions provider, has reached an agreement with the shareholders of Market Dojo, a UK-based eProcurement software company. 

The agreement states that Esker will acquire 50.1% of the shares and voting rights in the company effective Q1 2022 and the remainder of Market Dojo shares after four years.

The Market Dojo eSourcing cloud solution was created to address the need for structured and digitised processes in procurement. The on-demand solution lets users central information, negotiate the best value for goods and services, and select suitable suppliers. 

"In a world where supply chain management is a key factor for success, but can also often contain strategic risks, control of the sourcing process is critical for companies of all sizes," says Market Dojo.

Esker believes integrating procurement, accounting, and financial services is a major trend in the Procure-to-Pay (P2P) market. As well as developing its P2P solutions, the company addresses the demands of the P2P automation market through a combination of targeted acquisitions and value-added partnerships. 

Esker says the new merger will allow Market Dojo significant international development opportunities for its solutions. It also strengthens Esker's competitiveness in its traditional markets by integrating eSourcing as a unique key functional area, including reverse auctions, request for quotations (RFQ), request for proposals (RFP) management, supplier onboarding, and more.

"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," says Ardent Partners founder and chief research officer, Andrew Bartolini.

"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."

Market Dojo is based in Bristol, England, has 20 employees and over 160 customers, 60% of which are outside its domestic market, including France, the United States and the Middle East. The company has a trailing twelve-month sales revenue of GBP1.3 million, growing 30% annually.

The acquisition will be completed in two stages. After completing customary due diligence in Q1, 2022, Esker will acquire 50.1% of the share capital and voting rights in Market Dojo. At the end of a four-year collaboration period between the two companies, Esker will acquire the remaining 49.9% based on the same valuation multiple used for the first stage (13 times annual recurring cloud revenue). 

This final stage assumes no drastic change in market conditions regarding the valuation of technology companies. During these four years, Market Dojo will operate as a standalone business unit while offering Esker and Market Dojo's customers a leading P2P ecosystem, with Market Dojo leveraging Esker's strong back-office, operational infrastructure and international presence

"It's a delight to join forces with Esker," says Market Dojo co-founder and CEO, Alun Rafique. "There is incredible synergy, not just in our solutions, but in the people and culture. The acquisition provides a great opportunity for our customers and partners. 2022 will be an exciting year for anyone interested in a P2P ecosystem, and Market Dojo will be able to strengthen its position as the market-leading provider of on-demand eSourcing and supplier engagement solutions."

Jean-Michel Brard, Esker CEO, says, "We're pleased to welcome Market Dojo to the Esker family. This acquisition provides new growth opportunities in a developing market and strengthens Esker's positioning in the global P2P arena. Additionally, Market Dojo is an excellent illustration of Esker's strategy to invest in organic growth combined with targeted acquisitions that offer high growth potential."
 

Related stories
Top stories
Story image
Microsoft
Elevation of Privilege the top 2021 Microsoft vulnerability
BeyondTrust has released its 2022 Microsoft Vulnerabilities Report, finding that Elevation of Privilege is the top vulnerability category for the second consecutive year.
Story image
Wireless
Hands-on review: HyperX Pulsefire Haste wireless mouse and HyperX Pulsefire XL Mat
With its lightweight Pulsefire Haste wireless mouse and RGB lit Pulsefire XL Mat, HyperX sets out to up your game and add a little colour to your desktop.
Story image
Malware
'Alarming' rise in ransomware threats - Verizon report
As criminals look to leverage increasingly sophisticated forms of malware, it is ransomware that continues to prove particularly successful.
Story image
Phishing
WhatsApp and QR codes the next scam threat - report
KnowBe4 has warned it expects to see an increase in QR Codes and the WhatsApp chat platform being used for phishing and other scams. 
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
Amazon Web Services / AWS
RedShield leverages AWS to scale cybersecurity services
"Working with AWS gives RedShield the ability to mitigate significant application layer DDoS attacks, helping leaders adopt best practices and security architectures."
Story image
Training
Delinea enhances partner experience with new training initiatives
Delinea has announced a range of training and certification initiatives to help scale the capacity of VARs, System Integrators, MSPs and MSSPs to meet the demand for PAM solutions.
Story image
Hybrid Cloud
Barracuda expands cloud-native SASE platform
"The expansion of Barracuda's cloud-native SASE platform for hybrid deployment models and IIoT environments solves a number of challenges."
Story image
Artificial Intelligence
Frost & Sullivan recognises Genesys as leader in new reports
Frost & Sullivan has recognised Genesys as a leader in the cloud contact centre market for its robust cloud and digital capabilities.
Story image
Digital Marketing
Similarweb acquires SEO and rank tracking company Rank Ranger
Digital intelligence company Similarweb, which specialises in analysing web traffic, has acquired Rank Ranger, a market leader in SEO and rank tracking.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
Data Protection
Information management capabilities to meet privacy requirements
Organisations with customers or operations across more than one country face a spate of new and proposed privacy and data protection laws.
Story image
Employment
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Vectra AI
Vectra’s inaugural Partner of the Year Awards revealed
APAC companies Baidam, Firmus, ShellSoft and Macnica have been recognised in Vectra AI's inaugural Partner of the Year Awards.
Story image
Phishing
Vishing attacks reach all time high - Agari and PhishLabs
"Hybrid vishing campaigns continue to generate stunning numbers, representing 26.1% of total share in volume so far in 2022."
Story image
Sustainability
Legrand unveils Nexpand, a data center cabinet platform
Legrand has unveiled a new data center cabinet platform, Nexpand, to offer the necessary scalability and future-proof architecture for digital transformation.
Story image
Wireless
Hands-on review: Technics EAH-A800 Noise Cancelling Wireless Headphones
Designed in Osaka, Japan, these headphones just exude quality. They aren’t heavy, but they feel well built and solid.
Story image
Microsoft
New Relic enters multi-year partnership with Microsoft Azure
New Relic has announced a strategic partnership with Microsoft to help enterprises accelerate cloud migration and multi-cloud initiatives. 
Story image
Training
Infosec unveils role-guided cybersecurity training roadmaps
Infosec Skills Roles maps hands-on training and certifications to the 12 most in-demand cybersecurity roles to maximise training efficiency.
Story image
Microsoft
Global cybersecurity insurance market worth $11.5b this year
Future Market Insights finds the cybersecurity insurance market is expected to reach USD$11.5 billion in 2022, growing to $61.2 billion in 10 years.
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Cybersecurity
Asia Pacific plagued by sophisticated bad bots - report
The three most common bot attacks were account takeover, content or price scraping, and scalping to obtain limited-availability items.
Story image
Cybersecurity
Noname Security partners with Netpoleon to target API issues
Specialist API security firm Noname Security has appointed Netpoleon as its distributor in Australia and New Zealand.
Story image
Ransomware
Alarming surge in Conti Ransomware Group activity - report
A new report has identified a 7.6 per cent increase in the number of vulnerabilities tied to ransomware in Q1 2022.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Ransomware
Employees on the frontline of cyber defense - report
In the first quarter of 2022, employees found themselves more than ever at the frontline of cyber defense, according to a new report from Kroll. 
Story image
SaaS
Maintaining secure systems with expectations of flexible work
Most office workers feel they've proved they can work successfully from home, and as much as employers try, things aren't going back to the way they were anytime soon.
Story image
Sony
Sony launches LinkBuds S - the latest model in the series
Sony says the LinkBuds S will give users a unique sound experience through sensor and spatial sound technology, even in AR games.
Story image
Nozomi Networks
Nozomi Networks, Siemens reveal software integration
Nozomi Networks and Siemens have extended their partnership by embedding Nozomi Networks’ software into the Siemens Scalance LPE local processing engine.
Story image
Digital Transformation
Pluralsight and Ingram Micro Cloud team up on cloud initiative
Pluralsight has teamed with Ingram Micro Cloud to build upon cloud competence and maturity internally, and externally support partners’ capabilities.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Getac
Getac and Optalert expand partnership to promote industrial safety
Getac’s ZX70 Android tablets will be used to support Optalert’s Eagle Industrial early-warning drowsiness detection system for use in mining and transportation.
Story image
Gaming
Hands-on review: WD_Black SN770 NVMe SSD Game Drive
Western Digital expands its WD_Black range of NVMe solid-state drives with the WD_Black SN770 Game Drive.
Story image
Mobility
Tyson Beckford partners with Element Case on new AppleWatch band
Celebrity Tyson Beckford has collaborated with STM Brands' Element Case brand to create a rugged new accessory.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Surveillance
i-PRO releases smallest AI-based surveillance camera on the market
The new i-PRO mini network camera is now available, with a pocket-sized form factor and full AI analytics functionality.
Story image
Cybersecurity
Comcast to use ThreatQuotient for cybersecurity operations
Comcast, the parent company of NBC Universal and SKY Group, has chosen ThreatQ Platform and ThreatQ Investigations to meet their cybersecurity needs.
Story image
ChildFund
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Ransomware
APAC ranks third-highest region targeted by ransomware
Asia Pacific has ranked the third-highest region globally to be targeted by ransomware, according to cybersecurity firm Group-IB.