Connectbase has acquired MasterStream ERP, a telecom-centric configure-price-and-quote platform that currently processes 500,000 quotes monthly and focuses on transactions in the channel.
There are several benefits of this deal for Connectbase. This acquisition grows the Connectbase ecosystem, accelerates the adoption of digital transactions by the channel world and solidifies Connectbase's position as the leading global quoting and transaction platform for connectivity.
After the acquisition closes, Connectbase will expand and accelerate its channel offerings post-acquisition to further empower the ease of connectivity buying and selling for service providers and trusted advisors.
This acquisition caps off what has been a busy year for Connectbase.
Earlier this year, Connectbase acquired London-based LMX and secured an additional $16 million in line-of-credit funding from Silicon Valley Bank. The new combined Connectbase will have a global ecosystem of over 300 service provider APIs, connecting buyers and sellers across six continents with more than 2.7 billion unique serviceable locations through the proprietary Location Truth™ service in The Connected World platform, and positioning Connectbase firmly as it moves into 2024.
"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," said Ben Edmond, Founder and CEO of Connectbase. "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."
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