Massachusset, USA-based the Industry Cloud for Connectivity, Connectbase acquired MasterStream ERP. The latter is a MasterStream, a telecom-centric configure-price-and-quote platform currently processing 500,000 quotes monthly, focusing on transactions in the channel. The company announced the acquisition on December 27, 2023. However, it did not disclose the amount of the acquisition.
Purpose of acquisition by Connectbase
The recent acquisition grows the Connectbase ecosystem. It further accelerates the adoption of digital transactions by the channel world. Meanwhile, the transaction solidifies Connectbase’s position as the leading global quoting and transaction platform for connectivity.
Connectbase further has plans to expand and accelerate its channel offerings post-acquisition. It further intends to empower the ease of connectivity buying and selling for service providers, trusted advisors, as well as the entire digital infrastructure and services ecosystem.
The acquisition further follows Connectbase’s purchase of London-based LMX in the spring and also securing of an additional USD 16 million in line-of-credit funding from Silicon Valley Bank in the summer. The new combined Connectbase boasts the largest global ecosystem of more than 300 service provider APIs, securely connecting buyers and sellers across six continents with more than 2.7 billion unique serviceable locations via the proprietary Location Truth™ service in The Connected World platform and positioning Connectbase strongly as it moves into 2024.
What the founder of Connectbase has to add
Ben Edmond, Founder and CEO of Connectbase, said, “We are excited to welcome the MasterStream team and customer base into the Connectbase ecosystem and further unite the supply and demand of connectivity for suppliers, buyers and the channel partners driving growth in the market. Combining MasterStream, Connectbase, and LastMileXchange, which we acquired earlier this year, we’ve significantly increased the demand power and volume behind our already powerful Marketplace, making Connectbase the single biggest source of digital demand for the connectivity industry.”
Edmond further added, “This acquisition perfectly aligns with our strategic growth plan; Connectbase is growing supply and demand within our ecosystem, geographic reach, product set and go-to-market. This acquisition truly enhances our ability to serve our customers and partners better. Every move we make is to increase our value to ecosystem members and the industry.”
About Connectbase
Ben Edmond is the founder of the Connectbase. Connectbase is The Industry Cloud for Connectivity. It acts as a partner to the industry, further enabling next-generation buying and selling of connectivity, including automated quoting, and providing deep, trusted insights. Connectbase’s industry-leading platform, The Connected World, serves almost 300 providers globally. It also manages 2.7 billion locations across more than 150 countries. The Connectbase team has built a connected ecosystem, transforming network buying and selling processes.
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