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Blume Global acquires procurement tech company LiveSource

Acquisition strengthens cloud-based logistics business’ presence in Europe

Blume Global grows its presence in Europe with the acquisition of LiveSource. (Photo: Jim Allen/FreightWaves)

Cloud-based logistics company Blume Global announced Tuesday it has acquired supplier sourcing and procurement technology company LiveSource for an undisclosed amount.

Blume Global CEO Previnder Johar, who formerly served on the LiveSource board of directors, plans to leverage the company’s database of logistics providers servicing manufacturing facilities in North America, Europe and Asia in order to improve Blume’s existing suite of solutions.

“Blume is focused on supply chain orchestration. The acquisition of LiveSource complements Blume’s logistics orchestration and visibility with LiveSource’s sourcing and procurement orchestration and visibility. Acquiring LiveSource also complements Blume’s strong North American and Asian presence with a strong presence in Europe, which includes a wholly owned subsidiary, and veteran industry leadership,” said Johar.

The acquisition comes four months after Blume Global raised an undisclosed amount of capital from its new equity investors, Bridgepoint Group, to “support the company through its next stage of growth,” according to Rohit Dhote, managing director at Bridgepoint Credit.

As of Saturday, Blume Global’s customers have access to the manufacturing solutions provided by LiveSource, including tools for value analysis and engineering, product part approval processes, advanced product quality planning and nonconforming reporting.

Conversely, LiveSource customers, including vehicle equipment manufacturer Dana Inc., aircraft equipment manufacturer Safran and HVAC manufacturer Goodman, will be able to access Blume’s logistics execution software, giving manufacturers a better understanding of alternative suppliers available and the transportation costs associated with using them.

“Manufacturers manage an extraordinary amount of supplier sourcing and procurement data, as well as quality management information, that is typically in disparate systems. LiveSource solutions normalize this information by leveraging data lake technology, standardizing the data into actionable intelligence,” said LiveSource CEO Bo Hagler.

As part of the deal, Hagler will be joining the Blume management team and continuing to lead LiveSource as the CEO, reporting directly to Johar.

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Grace Sharkey

Grace Sharkey is a professional in the logistics and transportation industry with experience in journalism, digital content creation and decision-making roles in the third-party logistics space. Prior to joining FreightWaves, Grace led a startup brokerage to more than $80 million in revenue, holding roles of increasing responsibility, including director of sales, vice president of business development and chief strategy officer. She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading provider of news, data and analytics for the logistics industry. She holds a bachelor’s degree in international relations from Michigan State University. You can contact her at [email protected].