Benzinga | Feb 18, 2021 09:19AM EST

The ODP Corporation Acquires BuyerQuest Holdings; Size Of Acquisition Not Disclosed

Acquisition Accelerates ODP's Technology Development Enhancing its B2B Platform Capabilities and Customer Experience

Follows Recent Announcement of B2B Industry Veteran, Prentis Wilson, Joining ODP to Lead its New B2B Technology Business

The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that it has acquired BuyerQuest Holdings, Inc., a leader in cloud-based enterprise Procure-to-Pay (P2P) software. The acquisition accelerates ODP's technology development and enables it to deliver an integrated, eCommerce, P2P, and supply chain platform designed to transform how businesses buy and sell.

Since the company's inception nine years ago, BuyerQuest has delivered a world-class eCommerce experience to procurement organizations all around the world. The software streamlines and enhances corporate buying processes, allowing customers to increase user adoption, drive contract compliance, and save money. BuyerQuest customers, including some of the most recognized names in the consumer packaged goods, hospitality, public sector, manufacturing, and restaurant industries, among others, benefit from a modern buying experience that provides the spend transparency, deep insights, and advanced intelligence capabilities needed to save money and focus more on strategic priorities.

"We are committed to delivering on our vision to be a leading B2B company. With the addition of BuyerQuest's market-leading capabilities, and our recent announcement that Prentis Wilson has joined ODP, we are well on our way to fulfilling that vision," said Gerry Smith, chief executive officer of The ODP Corporation. "We are excited to welcome BuyerQuest into the ODP family as we accelerate our digital transformation."

ODP recently announced that Wilson, a B2B technology veteran, joined the company to help establish and scale a newly launched technology business. Wilson has a strong track record of successfully building B2B technology businesses as he spent almost eight years at Amazon.com, Inc., where he launched Amazon Business and grew it to over $10 billion in annual sales.

"BuyerQuest's strong customer focus, coupled with a world-class product, has allowed it to disrupt a crowded P2P market. As a result, BuyerQuest manages billions of dollars in monthly spend for some of the world's most reputable organizations," said Wilson. "The combination of BuyerQuest's P2P platform and ODP's digital commerce technology and supply chain capabilities drive efficiency and growth for customers -- buyers and suppliers alike."

"Our success has been a result of focusing on customers and delivering an intuitive platform that meets the needs of organizations of all size," said Jack Mulloy, CEO & Founder of BuyerQuest. "Gerry and Prentis share our customer obsession and vision around the future of B2B commerce. We look forward to accelerating our ability to deliver unprecedented value to our customers."