Outsourcing services company Xchanging, has acquired e-sourcing provider MarketMaker4 (MM4), as the outsourcing company looks to expand into the e-sourcing market.

The deal, which is valued at $22 million, will see Xchanging expand its services to include online auction and negotiation services from MarketMaker4.

MM4 has an international client base across a range of sectors and has worked with Xchanging previously. The acquisition will see services from such past commercial arrangements expanded upon.

Ed Cross, executive director of Xchanging Procurement Services (XPS), described how the acquisition would provide: “significant opportunities for XPS to expand its service and product offering into a new market while expanding both MM4 and XPS’ customer base and market opportunity.”

Xchanging and BAE Systems to Sign Seven Year Procurement Outsourcing Services Contract

Xchanging Pays $71.7 mln for Cambridge Assets