Retail cloud services provider SPS Commerce has acquired supply chain collaboration solution provider InterTrade Systems, which was a wholly-owned subsidiary of mdf commerce, for $65.8 million Canadian dollars (about $48.5 million).
The customers of InterTrade — which provides technical solutions for product, information and transaction data exchange between retailers and suppliers — will join SPS Commerce’s trading network of 105,000 trading partners in 80 countries, SPS Commerce said Wednesday (Oct. 5) in a press release.
“With the acquisition of InterTrade, SPS Commerce expands its network to thousands of businesses across North America, including marquee retailers and brands in apparel and general merchandise,” SPS Commerce CEO Archie Black said “We are pleased to welcome InterTrade employees and customers to our growing network of trading partners, and I am looking forward to working together to be the world’s retail network.”
Following the sale of InterTrade, mdf commerce will change the name of its eCommerce platform from “Unified Commerce” to “ecommerce.” This will encompass the company’s two eCommerce solutions Orckestra and k-ecommerce, mdf commerce said Wednesday in a press release.
Luc Filiatreault, CEO of mdf commerce, said SPS Commerce will bring InterTrade to the next level and add value to customers.
“This sale also fits well with our strategic goal of adding focus and investing in our two core platforms, eprocurement and ecommerce,” Filiatreault said. “The received consideration will allow the [corporation] to improve its balance sheet and create near-term shareholder value within mdf commerce.”
Enterprise-level B2B transactions involve tens of millions of dollars and thousands of invoices, each with hundreds or thousands of rows of line item detail, Boost Payment Solutions founder and CEO Dean Leavitt told PYMNTS in an interview posted Sept. 8.
Read more: Too Many Industry Sectors Operate in Payments ‘Dark Ages’
Leavitt said when making these payments, it’s imperative to deliver that data to the stakeholders in ways they can ingest it into their system and eliminate the human factor.
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