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.