acquisition the act of contracting or assuming or acquiring possession of something; "the acquisition of wealth"; "the acquisition of one company by another"
Procurement is the acquisition of appropriate goods and/or services at the best possible total cost of ownership to meet the needs of the purchaser in terms of quality and quantity, time, and location. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing exposure to fraud and collusion.
