Tradeshift on Tuesday announced that it has acquired Merchantry, a leading product information management (PIM) provider, for $30 million in cash and stock.
Jigish Avalani, President and COO of Tradeshift, said in a statement: “Merchantry’s industry-leading innovation in PIM and its e-commerce domain expertise will extend the power and value of the Tradeshift platform for our customers and their suppliers globally”, and added that: “This acquisition plays an important role advancing Tradeshift’s vision to help companies transform and digitize their supply chain relationships and processes.”
Rick Watson, CEO of Merchantry, said in a statement: “Merchantry was founded to solve the connectivity, complexities and business challenges that buyers and suppliers face in maintaining consistency and accuracy across vast amounts of product data”, “The success of our vision will now make an even greater impact through the Tradeshift platform and its ability to transform how businesses transact globally.”
Launched in 2010 and based in San Francisco, Tradeshift is a global supplier collaboration platform that connects buyers, suppliers, and all their processes. It helps businesses to run more efficiently, using cloud-based technology to impprove processes like AP automation, procurement, supplier management and working capital optimization. Companies rely on Tradeshift's platform to digitize their supply chain relationships and processes. Tradeshift connects 500,000 companies in 190 countries. It customers include Air France-KLM, Archer Daniels Midland, CBRE, DHL, the National Health Service (NHS), and Vestas.
Founded in 2004, Merchantry is a leading cloud-based product information management (PIM) provider. The company helps organizatuions grow their ecommerce businesses by building, scaling and streamlining online marketplaces. Merchantry's PIM technology enables organizations and companies to quickly connect to their supplier, ensuring consistent, accurate product information across multiple online channels. Customers include PacSun, La Redoute and Modell's Sporting Goods.
Merchantry's investors include iKite Ventures, Greycroft Partners, and e.ventures.
In addition, Lumos Partners advises Merchantry on the transaction.
Image Credit: TradeShift
Wednesday, August 12, 2015
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