Cofactr to acquire Cogbase.

Cofactr, a source-to-pay platform, agreed to acquire Cogbase, a hardware sourcing platform. Financial terms were not disclosed. “Going through multiple rounds of searches for new suppliers has often become the norm for hardware procurement teams because of the lengthy processes and decades-old tools that are currently available to them. But with supply chain disruptions becoming more frequent, manufacturers need to be able to accelerate the sourcing process and quickly connect with suppliers–even for the most complex parts in their bill of materials. With Cogbase, we’re expanding our ability to solve this challenge for manufacturers and quickly grow their supplier network,” Phillip Gulley, Cofactr CSO and Co-founder.