Advertisement

NetSuite Acquires Venda To Support European Expansion

Screen Shot 2014-07-17 at 11.53.05 AM
NetSuite has acquired London-based e-Commerce solution provider Venda to support its European business expansion. Financial details of the transaction were not disclosed.

Since 2001, Venda has offered its cloud-based digital Convergent Commerce Platform to retailers around the world. With offices in New York, London and Bangkok, Venda currently serves global customers including Tesco, F&F Clothing, boohoo.com, Laura Ashley, Little Tikes, TK Maxx and Arsenal Football Club.

The combination of the companies will further help B2B and B2C companies re-platform business systems in the cloud to support an omnichannel market.

Advertisement

Quoting Forrester Research, NetSuite is anticipating significant e-Commerce growth in European markets: “According to the recent Forrester Research report, European Online Retail Forecast: 2013 To 2018, online retail sales in Europe will grow by a compound annual growth rate (CAGR) of 12% over the next five years to reach €233.9 billion by 2018…As wallet share gradually shifts toward the Web, online sales are becoming a critical part of the retail economy of many European countries.”

Zach Nelson, CEO of NetSuite, noted: “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. 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.”

Featured Event

Get free access to tactical tips, invaluable insights, and deep-dive conversations that will help you hone your strategies for Q4 and beyond. That way, you can be sure to be on shoppers’ nice lists this holiday season…and all year long.

Advertisement

Advertisement

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: