Business Cloud News
NetSuite has acquired e-commerce cloud vendor Venda for an undisclosed sum

NetSuite has acquired e-commerce cloud vendor Venda for an undisclosed sum

Cloud-based ERP vendor NetSuite has announced it has acquired London-based Venda, a provider of e-commerce solutions, for an undisclosed amount. NetSuite said the move will bring more omnichannel capabilities to its SuiteCommerce platform.

Venda offers comprehensive e-commerce platforms that unify B2C sales operations across mobile, online, and in-store retail operations. NetSuite said the acquisition will strengthen its SuiteCommerce offering, an e-commerce platform that unifies B2C and B2B operations across POS and online channels.

The move will also give the company a step up in Europe and the UK specifically, where it has sought to expand in recent months. Venda counts some leading UK like Tesco, TK Maxx and Arsenal Football Club among its clients.

“Venda pioneered the concept of bringing commerce to the cloud and their expertise in supporting the needs of companies throughout Europe is a perfect match for NetSuite as our customers begin to adopt our SuiteCommerce omnichannel platform around the globe,” said Zach Nelson, chief executive officer of NetSuite.

“By combining Venda’s deep customer insight and years of experience delivering a real-time, scalable commerce platform with NetSuite’s cloud leadership, we can bring new capabilities to B2B and B2C companies of all sizes and transform how they run their businesses,” he said.

Eric Abensur, chief executive officer of Venda said the combination of the two companies will leave NetSuite well positioned to take advantage of increased consumer dependence on online retail channels, particularly as businesses start to move more of their customer-facing and internal systems over to the cloud.

According to a recent Forrester report online retail sales in Europe will grow by a compound annual growth rate (CAGR) of 12 per cent over the next five years to reach €233.9bn by 2018, outpacing in-store sales growth.