Thomson Geer has advised Melbourne-based global marketplace software provider Omnyfy on its acquisition by international B2B eCommerce platform company Ultra Commerce.
The deal brings together two leaders in the growing B2B commerce sector. Technology consulting firm Gartner predicts that over 75 per cent of B2B procurement spending will happen through online marketplaces by 2023 and 80 per cent of B2B sales interactions between buyer and seller will occur through digital channels by 2026.
Thomson Geer advised on the structure of the complex transaction and all documentation enabling the deal.
The team was led by Partner Matthew Reynolds, who said: "We are pleased to assist two great companies that are leaders in their fields to come together and create a stronger business offering to their clients."
Omnyfy was founded in 2015 and has grown to become one of the world's leading marketplace software providers.
Sydney-based Ultra Commerce is an eCommerce platform business focused on B2B commerce enablement.
Matt was supported by Senior Associate David Campbell and Lawyer Dani Shaw.