MFG.com Acquires SourcingParts.com
The online manufacturing market extends sourcing capability in Europe.
by DE Editors | Published September 1, 2006
MFG.com, Inc. (Atlanta, GA), an online marketplace for the manufacturing community, recently announced the acquisition of SourcingParts.com SA (Geneva, Switzerland), an on-demand sourcing platform and marketplace for the manufacturing industry in Europe.
This transaction combines the online marketplaces into a single global marketplace through which more than $5 billion worth of manufacturing services was sourced in the past year. The combined companies bring together buyers and suppliers from around the world in an online environment that leverages the collective intelligence of the community.
MFG.com Founder and CEO Mitch Free said, "A core belief of both companies is that for every buyer with a manufacturing requirement there is a uniquely prepared supplier somewhere in the world." The technical similarities between the two platforms allow existing users (buyers and suppliers) to benefit immediately from the merger without any change in their day-to-day usage.
For buyers, the site provides a direct link between OEM purchasing tools and a global manufacturing marketplace, more effectively matching their requirements to the specific capabilities of a worldwide network of suppliers covering more than 300 manufacturing processes. The most popular and differentiating features of the service are the automated supplier discovery engine that instantly matches the attributes of a buyer's RFQ to ideal suppliers and the community rating system that rewards those who are good citizens and exposes those who are not.
The new solution enables suppliers to instantly discover and build relationships with new and existing customers who are actively sourcing for the services and products they sell in a collaborative, non-auction, online environment. The company also provides suppliers of manufacturing services with on-demand productivity tools to help them manage their businesses.
For more information, visit MFG.com.
Sources: Press materials received from the company and additional information gleaned from the company's website.
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