SPS Commerce, which provides cloud-based supply chain management software for omnichannel retailers, has acquired ToolBox Solutions, a Toronto-based provider of point-of-sale analytics and category management services, for $18.4 million in cash and $4.5 million in stock.
The merger will expand the SPS Commerce retail network and strengthen the company’s leadership in retail analytics. ToolBox Solutions has already accumulated relationships with leading retailers and CPG suppliers, which will boost the current network of more than 60,000 organizations at SPS Commerce.
“In the omnichannel era, retailers and suppliers need rich insights into consumers’ purchase behavior, both in store and online,” said Archie Black, CEO of SPS Commerce in a statement. “Enabling collaboration and visibility between trading partners around consumer demand trends and inventory is essential in order to drive growth. With the acquisition of ToolBox Solutions, we expand our expertise in POS analytics for both retailers and suppliers.”
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SPS Commerce is forecasting a $1.45 million rise in revenue in the first quarter of 2016, and a $6 million rise in revenue for the fiscal year.
