Blume Global acquires risk management firm LiveSource
Move follows September equity investment, will complement Blume’s supply chain sourcing, procurement, execution, and visibility tools, firms say.
Supply chain technology vendor Blume Global took several large strides in 2021 to expand its technology portfolio, and as it enters 2022, the company will grow through acquisition as well, announcing it will buy the tech firm LiveSource.
Terms of the deal were not disclosed, but LiveSource CEO Bo Hagler will join the Blume management team, reporting directly to Blume Global CEO Pervinder Johar.
Atlanta-based LiveSource says its platform helps manufacturers take hidden risks out of their supply chains by mining disparate sources to uncover details like suppliers’ certification statuses or last-minute updates to bills of materials.
According to Pleasanton, California-based Blume Global, those capabilities will complement its own products in supply chain sourcing, procurement, execution, and visibility technology solutions. As a multi-enterprise supply chain business network for complex manufacturers, LiveSource also brings offices throughout North America, Europe, and Asia, and a customer base in the automotive and industrial manufacturing sectors.
Those existing LiveSource customers will now gain access to Blume’s logistics execution technology and supply chain management offerings, including its multi-leg transportation visibility and multimodal international transportation management system (TMS) capabilities.
Blume’s move follows an equity investment of undisclosed amount made in the company in September by London-based Bridgepoint Group in cooperation with affiliates of Apollo Global Management and EQT.
“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,” LiveSource CEO Hagler said in a release.
Blume Global has acquired LiveSource, a multi-enterprise supply chain business network for complex manufacturers. Watch the video below for more information.#logisticstechnology #procurement #sourcing #acquisition pic.twitter.com/LmEWtfKDNA
— Blume Global (@Blume_Global) January 4, 2022