The document summarizes the Knowledge Exchange initiative, an international cooperation between four organizations - Denmark's Electronic Research Library, the German Research Foundation, the UK's Joint Information Systems Committee, and the Netherlands' SURFfoundation - to jointly tender for digital content licenses. Through a competitive dialogue process, the consortium was able to achieve licensing agreements with five publishers and develop an innovative business model with tiered pricing and participation-based discounts across institutions in member countries. However, the tender process was also time-consuming and inflexible, and took effort to convince libraries to take up the resulting offers.