Retail cloud network provider SPS Commerce Inc. said Thursday it has paid $29 million to acquire Traverse Systems, a SaaS platform that provides retailers and their merchandise suppliers with a unified view of supply chain performance.
The purchase included $25 million in cash and $4.3 million in SPS Commerce stock. The deal follows SPS’ moves in 2023 to acquire electronic data interchange (EDI) system automation vendor The Order Exchange and supply chain digitalization and e-invoicing service provider TIE Kinetix.
Sugar Land, Texas-based Traverse Systems says its software tools help users improve collaboration and enhance the consumer experience. The company’s platform connects five business functions, including: suppliers/vendors, merchants/buyers/procurement, supplier/vendor relations, transportation/distribution center, and finance/accounts payable.
That connected vision provides scorecarding and vendor performance management solutions for retailers, driving supply chain efficiencies such as increased on-time and in-full shipments, enhanced inventory accuracy, greater visibility into inbound shipments, real-time disruption management, and improved invoice accuracy, Traverse Systems says.
Minneapolis-based SPS says its retail network connects trading partners around the globe to optimize supply chain operations for all retail partners. To date, more than 120,000 companies in retail, grocery, distribution, supply, and logistics have chosen the company’s platform as their retail network, according to SPS.
Gartner, Inc.