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NETSUITE ACQUIRES VENDA

Stocks in this article: N

LONDON and SAN MATEO, Calif., July 17, 2014 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced the acquisition of London-based Venda, a leading provider of ecommerce solutions for an undisclosed amount.

NetSuite's acquisition of Venda, one of the world's leading pioneers in and providers of cloud-based digital commerce solutions, builds on the momentum of NetSuite SuiteCommerce globally and supports NetSuite's business expansion into the European market. Venda's platform serves some of the world's leading brands including Tesco F&F Clothing, boohoo.com, Laura Ashley, Little Tikes, TK Maxx and Arsenal Football Club. The combination of NetSuite and Venda will deliver unprecedented capabilities that businesses need to meet the demands to deliver a seamless, omnichannel commerce experience to consumers and businesses.

"Venda pioneered the concept of bringing commerce to the cloud and their expertise in supporting the needs of companies throughout Europe is a perfect match for NetSuite as our customers begin to adopt our SuiteCommerce omnichannel platform around the globe," said Zach Nelson, NetSuite CEO. "By combining Venda's deep customer insight and years of experience delivering a real-time, scalable commerce platform with NetSuite's cloud leadership, we can bring new capabilities to B2B and B2C companies of all sizes and transform how they run their businesses."

Venda's Convergent Commerce Platform is a comprehensive ecommerce platform enabling retailers and brands to deliver a unified experience for their customers across online, mobile, social and in-store. The company's complete ecommerce software solution combines flexibility, reliability and scalability with the operating advantages of an outsourced service. Multi-lingual and multi-currency capable, Venda's B2B and B2C solutions provide "best of the web" capabilities to Fortune 1000 companies. Venda allows customers to reduce the risk, complexity and cost associated with ecommerce, while empowering business users and delivering unprecedented ROI. Venda has offices in New York, London and Bangkok and has a customer install base focusing on the retail vertical.

"Venda has incredible technology, employees and customers. Combining those attributes with NetSuite's scale and leadership in cloud ERP and CRM technology, we are well positioned to meet the needs of our customers and execute on our vision of global commerce," said Eric Abensur, CEO of Venda.

The Shift of Business Systems to the Cloud and Omnichannel Commerce

NetSuite's acquisition of Venda increases the significant investment NetSuite has already made in two major growth engines for the company: a solution that enables companies across industries to re-platform core operational business systems in the cloud and the transformation of those core operational business systems to help organisations transform B2B and B2C commerce to support an omnichannel world.

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