**Acquisition places Simfoni in the ‘Global Top 10’ for AI-driven [Spend Management](/content/spend-management-101/ "Spend Management"/index.html) solutions**

[**Simfoni**](/content/company/index.html) is thrilled to announce it has joined forces with Michigan-based [**Xeeva**](https://www.xeeva.com/company/), a fellow leader in AI-powered spend management and [procurement](/content/procurement/ "Procurement"/index.html) technology solutions. This is Simfoni’s [second strategic acquisition](/content/news-and-events/simfoni-acquires-ec-sourcing-group-further-accelerating-growth-and-momentum/index.html) in 2022 and marks another significant milestone as the company continues to expand upon its solution and support competencies, accelerate growth, and solidify market dominance in indirect ( [tail spend](/content/tail-spend-management-guide/ "Tail Spend"/index.html)) management and AI-driven [spend analytics](/content/spend-analytics/what-is-spend-analytics-why-and-how-it-is-implemented/ "Spend Analytics"/index.html) and [eSourcing](/content/esourcing-guide/ "eSourcing"/index.html) solutions.

_**“Combining forces with Xeeva represents a very rare and unique opportunity to leverage a highly complementary and synergistic solution provider to scale our operational infrastructure and extend competencies in a way that further differentiates our Composable Procurement™ concept,”**_ said [**Chirag Shah**](https://www.linkedin.com/in/chiragshah01/), Simfoni Chairman.

Xeeva’s capabilities in AI-based data enrichment and payments automation complements Simfoni’s managed marketplace offering and further strengthens the company’s solution for **[tail spend management](/content/spend-automation/index.html)**. The acquisition will secure Simfoni’s place as one of the top 10 procurement technology providers, globally, and _**“create a best of both worlds situation for**__**Xeeva and Simfoni**__**clients alike”**_, according to Shah. He continued, _**“Our two businesses bear so much similarity that there are huge benefits in both economies of scale and economies of scope.”**_

[**Nina Vellayan**](https://www.linkedin.com/in/ninavellayan/), CEO of Xeeva commented, _**“I am very excited to be part of such a value-enhancing situation that offers fantastic career potential for**__**Xeeva staff and to be able to offer Xeeva customers heightened levels of customer service and an expansion of technology options. I would like to take this opportunity to thank our clients for choosing Xeeva over the years, and I know we are leaving them in good hands with Simfoni.”**_

**[Read the full press release here.](https://www.prweb.com/releases/2022/11/prweb19026628.htm)**