GT Nexus and TradeCard have entered into a definitive merger agreement. Both companies provide and operate business collaboration networks for global trading partners. The combined entity will manage a global cloud-based network of over 20,000 businesses representing $100 billion in direct supply chain trade, spanning retail and apparel, high tech, automotive, heavy industry, consumer products, pharmaceutical, chemicals, commodities, finance and logistics.
The merger brings together GT Nexus, a provider of cloud-based logistics and global transportation control products for manufacturers, retailers and logistics service providers, with TradeCard, a provider of cloud-based financial supply chain and production visibility products for retail and consumer soft goods.
"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.
Aaron Sasson, CEO of GT Nexus, added: "Together, we offer a single cloud network for enabling business processes across global trade networks—an enormous and still untapped 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, CA, will have 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. Specifics about the company name and leadership structure will be announced when the transaction is finalized.
The merger is subject to customary closing conditions and clearance from antitrust regulatory authorities. The transaction is expected to close in early 2013.
