GEP buys market intelligence firms Costdrivers and Datamark

09 March 2022 2 min. read
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GEP, a supply chain software and consulting firm, has acquired Datamark International and its subsidiaries Costdrivers and Datamark.

Costdrivers is based in Dover, DE and provides a market data and intelligence platform to help companies optimize the time of earnings, reduce costs, and increase performance in purchasing, finance, and new product development.

The firm’s platform provides interactive dashboards with price forecasts and alerts for cost reduction opportunities that feed into budgeting and planning tools. Costdrivers tracks more than 50,000 commodities and operating supplies in markets across the global, and works with more than 200 enterprise customers in 40 countries. The firm’s client roster includes General Mills, Hyundai, Fiat Chrysler, and Hershey’s.

Datamark, meanwhile, is based in Sao Paolo and focuses on serving the Brazilian market with procurement data on consumer products, packaging, and industrial inputs. The firm works with more than a quarter of Brazil’s top 1,000 companies.GEP buys market intelligence firms Costdrivers and DatamarkThe transaction will give GEP an additional large database of global prices and costs. The deal will also boost the firm’s Latin America presence and Brazil client roster.

“While GEP's consulting and managed services teams are already leveraging COSTDRIVERS to deliver game-changing results, we will also enable GEP software customers to leverage the platform by eventually incorporating its powerful functionality into their GEP SMART and GET NEXXE digital procurement and supply chain management platforms," said Subhash Makhija, CEO of GEP.

GEP Smart is an AI-powered, cloud-native source-to-pay platform while GEP Nexxe is an end-to-end supply chain management platform. The Clark, NJ-based firm also provides supply chain and procurement-focused managed services and consulting. Its consulting offering includes supply chain strategy and optimization, digital procurement transformation, supply risk management, and M&A services.

GEP has more than 5,000 professionals across the Americas, Europe, and Asia-Pacific.