SPS Morphs into a B2B Exchange Provider
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SPS Commerce said it has completed its transition to a new business model, becoming a retail and manufacturing B2B exchange provider, after divesting its EDI software division, SPS Solutions, to Internet software developer TIE Holding of the Netherlands.
The company said it has gained a critical mass of thousands of vendors who are using its B2B exchange. Clients include Kmart, Sears, Target Stores, Walgreen Co., Sherwin Williams, Fingerhut, Jo-Ann Stores, and Cisco Systems.
Terms of the sale to TIE were not disclosed. The divestiture follows SPS Commerce's recent acquisition of RNetEC, an online product catalog for retailers.
"With this sale, we have streamlined our business to one single focus: B2B e-commerce services," said Steve Waldron, president and chief executive officer of SPS Commerce. "Retailers and manufacturers of all sizes can automate any type of B2B transactions using a Web browser through our trading community"
Separately, SPS signed a joint business relationship agreement with Retek, a provider of Internet retail e-commerce solutions. The partnership provides retailers and their trading partners with a complete, Internet-based services and software solution.
Financial arrangements were not disclosed.
Retek's solutions are available on client platforms and at retail.com, an e-commerce platform for business-to-business collaboration. Retek customers include AnnTaylor, Brooks Brothers, Family Dollar Stores, Eckerd Corp., The Home Shopping Network and Fogdog Sports, among others.