BWW Geeks World

Supply Chain: GT Nexus and TradeCard to Merge, Creating World's Biggest Cloud-Based Business Network for Global Trade and Supply Chain Management

Related: Supply Chain, Global Trade
Supply Chain: GT Nexus and TradeCard to Merge, Creating World's Biggest Cloud-Based Business Network for Global Trade and Supply Chain Management

GT Nexus and TradeCard today announced that the companies have entered into a definitive merger agreement. The companies are leaders and pioneers in cloud-based technology platforms that link companies together in commerce networks. Both provide -- and operate -- advanced business collaboration networks that the world's leading companies rely on to better manage physical and financial supply chain processes on a global scale with thousands of trading partners.

As cloud technology rapidly replaces licensed and installed traditional software in the corporate enterprise, global supply chain management has emerged as the next big opportunity for driving business agility and operational excellence. Merged, the combined entity instantly becomes the world's biggest cloud information utility, with a global network of over 20,000 businesses spanning every major industry -- from retail and apparel to high tech, automotive, heavy industry, consumer products, pharmaceutical, chemicals, commodities, finance and logistics. Together, the companies will manage over $100 billion in direct supply chain trade.

"Both companies share a common technology vision that networked platforms, delivered in the cloud, is the path forward for companies that source and sell goods globally," said Sean Feeney, CEO of TradeCard. "The strengths of each company are highly complementary and will offer customers a complete solution, covering the entire supply chain execution lifecycle, from sourcing of goods to final delivery and payment."

The merger brings together GT Nexus, the established leader in cloud-based logistics and global transportation control solutions for manufacturers, retailers and logistics service providers, with TradeCard, the undisputed leader in cloud-based financial supply chain and production visibility solutions for retail and consumer soft goods.

"Our customers are the biggest winners in this merger," noted Aaron Sasson, CEO of GT Nexus. "It's a true merger of equals. Together, we offer a single cloud network for enabling business processes across global trade networks -- an enormous and still untapped opportunity for the vast majority of companies who have been struggling to take their businesses to the next level with complicated ERP systems."

The company, to be headquartered in Oakland, CA, will have global presence with a network of regional offices around the world. TradeCard CEO Sean Feeney will be CEO of the merged company, GT Nexus CEO Aaron Sasson will be Chairman of the Board, and TradeCard Founder Kurt Cavano will be Vice Chairman. Specifics about the company name and leadership structure will be announced when the transaction is finalized.

The merger is subject to customary closing conditions and clearance from antitrust regulatory authorities. The transaction is expected to close in early 2013.

Comment & Share

Related Links
Owens & Minor to Host 9th Annual Healthcare Supplier Diversity Symposium on September 23-24, 2014Owens & Minor to Host 9th Annual Healthcare Supplier Diversity Symposium on September 23-24, 2014
July 23, 2014
Optimizing Networks: Global Markets for Small Cells and Carrier Wi-FiOptimizing Networks: Global Markets for Small Cells and Carrier Wi-Fi
July 23, 2014
Markets for Silver Nanomaterials as Transparent ConductorsMarkets for Silver Nanomaterials as Transparent Conductors
July 23, 2014
Beyond Crisis: Focusing On A Culture Of Workplace Safety Can Deliver Bottom Line ResultsBeyond Crisis: Focusing On A Culture Of Workplace Safety Can Deliver Bottom Line Results
July 23, 2014
Epicor Congratulates Little Hardware on Winning a 2014 Technology ROI Award From Nucleus ResearchEpicor Congratulates Little Hardware on Winning a 2014 Technology ROI Award From Nucleus Research
July 23, 2014


About Author

Subscribe to Author Alerts

Become a Fan, Follower & Subscriber