Trade Extensions Named one of Sweden's Fastest Growing Companies

HOUSTON, October 29, 2010 /PRNewswire/ -- E-sourcing platform Trade Extensions has been recognised as one of the fastest growing companies in Sweden after it was awarded 'Gasell' (Gazelle) status by leading Swedish business newspaper Dagens Industri. The newspaper has been identifying the fastest growing companies in Sweden since 2000 and 'Gasell' status is only awarded to companies who meet strict criteria including continuous growth over the last three years; a doubling of turnover over the same period and financially sound accounts.

The company grew by 25% in terms of revenue in the twelve months up the end of July 2010 and its e-sourcing platform allows organisations to improve sourcing results by analysing the data that is collected from suppliers during complex tenders. The types of tenders and sourcing projects involve hundreds of suppliers making offers to supply tens of thousands of items so processing this amount of data requires sophisticated software. Trade Extensions was formed in Uppsala, Sweden in 2000 and now has additional offices in the UK, US and France. It pioneered the use of e-sourcing and optimisation in the early 2000s and is recognised in the e-sourcing sector as a leading provider of optimisation software.

Trade Extensions, CEO Garry Mansell said, "Sourcing is now used as a strategic function to help businesses achieve their broader objectives and e-sourcing is the only effective way to manage the complexities involved in a modern day sourcing project. With this in mind, we are well placed to continue the growth that has been recognised by us achieving 'Gasell' status."

Trade Extensions will collect the 'DI Gasell' award at a ceremony in Stockholm, Sweden on Monday, 29 November 2010.

Trade Extensions

Trade Extensions (http://www.tradeextensions.com) sets new standards for on-line sourcing and optimisation. Its unique sourcing software helps organisations achieve their strategic buying objectives by specifying sourcing events, collecting offers and, most significantly, optimising the results. On-line sourcing projects generate millions of variables and it is the algorithm design that underpins the success of Trade Extensions' software and means solutions can be identified in seconds. Trade Extensions also provides integrated spend analysis to help organisations identify and exploit procurement opportunities.

More Information:

Niklas Pettifor - P&P - [email protected] - +44(0)20-7936-9269

SOURCE Trade Extensions