US: TradeCard and GT Nexus to merge global networks
TradeCard is to merge with logistics and transportation specialist GT Nexus in a deal set to create the world's biggest cloud-based business network for global trade and supply chain management.
The two firms provide - and operate - business collaboration networks that help companies better manage physical and financial supply chain processes on a global scale with thousands of trading partners.
Between them, they will have a global network of over 20,000 businesses and manage more than $100bn in direct supply chain trade, it was claimed today (7 January).
"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."
Aaron Sasson, CEO of GT Nexus, added: "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 un-tapped 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, California, will have a 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.
The transaction is expected to close in early 2013.
An interactive databank with intelligence on the major apparel sourcing countries
Omni-channel services may be delivering, but they can be complex. The goal is delivering a seamless omni-channel experience for apparel buying consumers and if the tech doesn't work, the sales aren't ...
How retailers deal with the omni-channel challenge varies greatly, as do opinions on how to integrate strategies for online, mobile and physical transactions....
Deckers Outdoor Corp, the maker of Ugg boots and Teva sandals, is to deploy the GT Nexus cloud-based platform to enhance collaboration and end-to-end visibility across its supply chain....
- Euro decline weighs on Turkish clothing industry
- Supply chain mapping using the Bitcoin blockchain
- Mexico makers see rise in exports and local demand
- VF Corp confirms interest in Africa sourcing
- G-Star RAW pushes the boundaries of denim
- UK retailers to answer over human trafficking
- LF Corp to streamline planning and sourcing
- New dye-sublimation printers for sportswear
- Clothing a top category for mass personalisation
- Exports of lower cotton content denim treble
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Management briefing: Factory safety and auditing: The key challenges
- Global market review of workwear - forecasts to 2019
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects