SPS Commerce

SPS Commerce is a corporation 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 Kiev.[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]

SPS Commerce, Inc.
TypePublic
NASDAQ: SPSC
S&P 600 Component
IndustryTechnology – application software
Founded1987
FounderGary W Anderson
Headquarters
Minneapolis, Minnesota
,
United States
Key people
Archie C. Black (CEO, President, Director)[1]

Kimberly K. Nelson [2]
(Chief Financial Officer, and Principal Accounting Officer)
James J. Frome
(Chief Operating Officer)

Jamie Thingelstad [3]
(Chief Technology Officer)
ServicesSupply chain management solutions, EDI
Revenue$ 279.1M (2019) [4]
Number of employees
1,363 (2019) [5]
Websitewww.spscommerce.com

History

The 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 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 79 consecutive quarters of growth, most of which has been organic. They do acquire companies in their space where it makes sense, notably:

- 2011: acquired San Diego-based EDI services company Direct EDI for $10.9M, 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

- 2020: $100M acquisition of Data Masons [22]

In addition to acquiring companies, SPS has been busy acquiring executives to newly created roles to expand the executive team and help drive the company forward

- 2013: SPS hired former Dow Jones CTO Jamie Thingelstad to be CTO [23]

- 2015: SPS hired former Target Corp CIO Beth Jacob in an executive role.[24][25]

- 2016: SPS hired Dan Juckniess as CRO [26]

Products and services

SPS Commerce, Inc. provides on-demand supply chain management solutions through an online hosted software suite. The Company uses pre-built integrations to eliminate on-premise software and support staff to shorten supply cycle times optimize inventory levels and reduce costs.[27]

References
  1. "Executive Profile, Archie C Black". Bloomberg. Retrieved 23 September 2015.
  2. "Executive Profile, Kimberly K Nelson". Bloomberg. Retrieved 23 September 2015.
  3. Thingelstad, Jamie (21 Nov 2013). "Meet a Minnesota CTO: Jamie Thingelstad" (Interview). Interviewed by TECHdotMN. Minneapolis. Retrieved 23 September 2015.
  4. "SPS Commerce Reports Fourth Quarter and Full Year 2019 Financial Results" (Press release). Minneapolis. 13 February 2020. Retrieved 2020-12-14.
  5. "Company Info, SPS Commerce Inc". Wall Street Journal. Retrieved 2020-12-14.
  6. Grayson, Katharine. "Now public, SPS Commerce plans to keep hiring". Minneapolis/St. Paul Business Journal. Retrieved 12 March 2014.
  7. Willard, Elizabeth. "No. 3 medium company: SPS Commerce Inc". Minneapolis/St. Paul Business Journal. Retrieved 12 March 2014.
  8. "SPS Commerce positioning retail supply-chain software for global presence". The Line Media. Retrieved 23 September 2015.
  9. "SPS Commerce lands at No. 1 on Top Workplaces list of large companies". Minneapolis Star Tribune. Retrieved 23 September 2015.
  10. "Digital River's exit leaves just one software company on MN's Top 100 Public List". Minneapolis St Paul Business Journal. Retrieved 23 September 2015.
  11. "Company Profile SPS Commerce". Inc. Magazine. Retrieved 12 March 2014.
  12. "Profile SPS Commerce, Inc". Yahoo Finance. Retrieved 12 March 2014.
  13. "SPS Solutions Joins TIE Commerce; SPS Solutions Expands Its B2B Product and Service Offerings" (Press release). St. Paul Minnesota. PR News Wire. 2000-04-18. Retrieved 2015-09-28.
  14. Reilly, Mark. "SPS Commerce Raises Another $10M to Expand". Minneapolis/St. Paul Business Journal. Retrieved 12 March 2014.
  15. "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek. Retrieved 12 March 2014.
  16. Pimentel, Benjamin. "Three tech firms debut in busy IPO day". MarketWatch. Retrieved 12 March 2014.
  17. "Logistics technology: SPS Commerce acquires Direct EDI". Logistics Management. Retrieved 23 September 2015.
  18. "SPS Commerce acquires business data service Edifice for $26 million". Pioneer Press. Retrieved 23 September 2015.
  19. Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". ZDNet. Retrieved 23 September 2015.
  20. "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". Star Tribune. Retrieved 2018-12-31.
  21. "SPS Commerce snaps up Texas tech company for $23M". www.bizjournals.com. Retrieved 2018-12-31.
  22. "SPS Commerce Acquires Data Masons". www.globenewswire.com. Retrieved 2020-12-17.
  23. "SPS Commerce names Thingelstad chief technology officer". www.bizjournals.com. Retrieved 2018-12-31.
  24. Boulton, Clint. "Former Target CIO Beth Jacob Lands at SPS Commerce". Wall Street Journal.
  25. Kumar, Kavita. "SPS Commerce hires former Target tech executive". Minneapolis Star Tribune.
  26. MarketScreener. "Dan Juckniess Joins SPS Commerce as Chief Sales Officer | MarketScreener". www.marketscreener.com. Retrieved 2018-12-31.
  27. "Company Profile". Bloomberg. Retrieved 14 December 2020.
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