SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software to retailers, suppliers, third-party logistics providers and partners.[6] The company's headquarters are located in Minneapolis, Minnesota,[7] but also has a US office in New Jersey, and international locations in Beijing, Hong Kong, Sydney, Melbourne, Toronto, and Kyiv.[8] In 2015, the Minneapolis Star Tribune reported that SPS Commerce was ranked by WorkplaceDynamics as the best large workplace in Minnesota.[9] SPS was also ranked among the top 10 fastest growing publicly traded companies in Minnesota in 2014.[10]
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Company type | Public |
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Nasdaq: SPSC S&P 600 Component | |
Industry | Technology – application software |
Founded | 1987 |
Founder | Gary W Anderson[citation needed] |
Headquarters | , United States |
Key people |
|
Services | Supply chain management solutions,[buzzword] EDI |
Revenue | $450 million (2022)[4] |
Number of employees | 1,363 (2019)[5] |
Website | spscommerce |
History
editThe company was founded in 1987[11] under the name St. Paul Software.[12] In 2000, the company sold its software business to Netherlands-based TIE Commerce.[13] After the sale, the company primarily offered internet-based business-to-business (B2B) exchanges for retailers and manufacturers.[14] St. Paul Software was renamed SPS Commerce in May 2001.[15] SPS Commerce went public in April 2010 when it debuted on the NASDAQ global market.[16] SPS has enjoyed 91 consecutive quarters of growth, most of which has been organic. They acquire companies where it makes sense, notably:
,- 2011: acquired San Diego–based EDI services company Direct EDI for $10.9 million, adding 40 employees in a San Diego office and a development group in Ukraine.[17]
- 2012: purchased New Jersey–based data analytics firm Edifice for $26M[18]
- 2014: $14.9M acquisition of LeadTec, an EDI provider headquartered in Melbourne, Australia.[19]
- 2016: $23M acquisition of ToolBox Solutions [20]
- 2018: $23M acquisition of CovalentWorks[21]
- 2019: $11.5M acquisition of long-term technology partner MAPADOC[citation needed]
- 2020: $100M acquisition of Data Masons[22]
- 2021: $17M acquisition of Genius Central[citation needed]
- 2022: $45M acquisition of GCommerce[citation needed]
- 2022: $49M acquisition of InterTrade[23]
- 2023: €64.5M acquisition of TIE Kinetix[24]
- 2024: $25M acquisition of Traverse Systems[25]
- 2024: $206M acquisition of SupplyPike[26]
In addition to acquiring companies, SPS has been acquiring executives to newly created roles to expand the executive team:
- 2013: SPS hired former Dow Jones CTO Jamie Thingelstad to be CTO[27]
- 2015: SPS hired former Target Corp CIO Beth Jacob in an executive role.[28][29]
- 2016: SPS hired Dan Juckniess as CRO[30]
References
edit- ^ a b "SPS Commerce Leadership". Retrieved 2023-10-28.
- ^ "Executive profile, Kimberly K Nelson". Bloomberg.com. Bloomberg L.P. Retrieved 23 September 2015.
- ^ "Meet a Minnesota CTO: Jamie Thingelstad". Tech.mn (Interview). Interviewed by TECHdotMN. Minneapolis. 21 November 2013. Archived from the original on 11 December 2013. Retrieved 23 September 2015.
- ^ "SPS Commerce reports fourth quarter and full year 2022 financial results". SPSCommerce.com (Press release). Minneapolis: SPS Commerce Inc. 13 February 2020. Retrieved 14 December 2020.
- ^ "Company Info, SPS Commerce Inc". WSJ.com. Wall Street Journal. Retrieved 14 December 2020.
- ^ Grayson, Katharine (28 June 2010). "Now public, SPS Commerce plans to keep hiring". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
- ^ Willard, Elizabeth (23 August 2013). "No. 3 medium company: SPS Commerce Inc". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
- ^ "SPS Commerce positioning retail supply-chain software for global presence". TheLineMedia.com. The Line Media. Retrieved 23 September 2015.
- ^ "SPS Commerce lands at No. 1 on Top Workplaces list of large companies". StarTribune.com. Minneapolis Star Tribune. Retrieved 23 September 2015.
- ^ "Digital River's exit leaves just one software company on MN's Top 100 Public List". BizJournals.com. Minneapolis St Paul Business Journal. October 2014. Retrieved 23 September 2015.
- ^ "Company profile: SPS Commerce". Inc.com. Inc. Magazine. Retrieved 12 March 2014.
- ^ "Profile SPS Commerce, Inc". Finance.Yahoo.com. Yahoo Finance. Retrieved 12 March 2014.
- ^ "SPS Solutions joins TIE Commerce; SPS Solutions expands its B2B product and service offerings". PRNewsWire.com (Press release). St. Paul Minnesota: PR News Wire. 18 April 2000. Retrieved 2015-09-28.
- ^ Reilly, Mark (11 June 2001). "SPS Commerce raises another $10M to expand". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
- ^ "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek.com. BusinessWeek. Archived from the original on 13 March 2014. Retrieved 12 March 2014.
- ^ Pimentel, Benjamin (22 April 2010). "Three tech firms debut in busy IPO day". MarketWatch.com. MarketWatch. Retrieved 12 March 2014.
- ^ "Logistics technology: SPS Commerce acquires Direct EDI". LogisticsMgmt.com. Logistics Management. Retrieved 23 September 2015.
- ^ "SPS Commerce acquires business data service Edifice for $26 million". TwinCities.com. Pioneer Press. Retrieved 23 September 2015.
- ^ Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". ZDNet.com. ZDNet. Retrieved 23 September 2015.
- ^ "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". StarTribune.com. Star Tribune. Retrieved 31 December 2018.
- ^ "SPS Commerce snaps up Texas tech company for $23M". BizJournals.com. 19 December 2018. Retrieved 31 December 2018.
- ^ "SPS Commerce acquires Data Masons". GlobeNewswire.com. 17 December 2020. Retrieved 17 December 2020.
- ^ "SPS Commerce acquires InterTrade". spscommerce.com. 31 May 2024. Retrieved 31 May 2024.
- ^ "SPS Commerce acquires TIE Kinetix". spscommerce.com. 24 April 2024. Retrieved 24 April 2024.
- ^ "SPS Commerce acquires Traverse Systems". spscommerce.com. 31 May 2024. Retrieved 31 May 2024.
- ^ "SPS Commerce Acquires SupplyPike". spscommerce.com. 1 Aug 2024. Retrieved 7 Aug 2024.
- ^ "SPS Commerce names Thingelstad chief technology officer". BizJournals.com. August 2013. Retrieved 31 December 2018.
- ^ Boulton, Clint (30 March 2015). "Former Target CIO Beth Jacob lands at SPS Commerce". Blogs.WSJ.com. Wall Street Journal.
- ^ Kumar, Kavita. "SPS Commerce hires former Target tech executive". StarTribune.com. Minneapolis Star Tribune.
- ^ "Dan Juckniess joins SPS Commerce as Chief Sales Officer". MarketCcreener.com. MarketScreener. Retrieved 31 December 2018.