State of Flux acquires strategic investment in leading digital agency Marker Studio
Procurement and supply chain solutions specialist acquires stake in award-winning New Zealand-based digital agency and application developer.
State of Flux, a leading procurement and supply chain consultancy, today announced that it has acquired a stake in�Marker Studio, an award-winning, full-service digital agency headquartered in Auckland, New Zealand.
The deal gives State of Flux greater access to Marker's development team, extending its capabilities to design and build innovative applications for the procurement and supply chain market. The two companies have partnered for the past seven years on State of Flux's pioneering�Supplier Relationship Management (SRM) System, which last month earned the company "Cool Vendor" 2012 status from the leading analyst firm Gartner.
In addition, State of Flux and Marker are joining forces to exploit growth potential in the Australasian market for procurement and supply chain services, while at the same time giving Marker access to opportunities among State of Flux's client base in the UK and Europe.
Jon Beattie, Managing Director of Marker Studio, will lead the expanded operation in Australia and New Zealand and joins State of Flux Chairman & Founder Alan Day and Director Patrice Day on State of Flux's UK advisory board in the new role of Head of Innovation.
Commenting on the deal, Alan Day said: "We believe the market for procurement apps will grow significantly over the next 3-5 years. Joining forces with Marker and its award-winning app development team will enhance State of Flux's ability to capitalise on these opportunities.
"Both companies have a strong track record of innovation and pushing the boundaries in our respective markets. Our successful collaboration in developing the SRM System - an industry-leading solution for managing strategic customer-supplier relationships - is a clear example of how, by working together, we can deliver real value to our clients."�
Jon Beattie said: "The existing partnership with State of Flux has been highly successful and this new phase will foster exciting growth potential both locally and overseas. It opens up new opportunities for our respective clients, as well as aligning the two teams and their complementary skills more closely."
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