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 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]

SPS Commerce, Inc.
TypePublic
Nasdaq: SPSC
S&P 600 Component
IndustryTechnology – application software
Founded1987 (1987)
FounderGary W Anderson
Headquarters
Minneapolis, Minnesota
,
United States
Key people
ServicesSupply chain management solutions, EDI
Revenue$ 450 million (2022)[4]
Number of employees
1,363 (2019)[5]
Websitewww.spscommerce.com

History

The company was founded in 1987 (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 90 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 $10.9M, 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]
  • 2021: $17M acquisition of Genius Central
  • 2022: $45M acquisition of GCommerce
  • 2022: $49M acquisition of InterTrade

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[23]
  • 2015: SPS hired former Target Corp CIO Beth Jacob in an executive role.[24][25]
  • 2016: SPS hired Dan Juckniess as CRO[26]

References
  1. "Executive profile, Archie C Black". Bloomberg.com. Bloomberg L.P. Retrieved 23 September 2015.
  2. "Executive profile, Kimberly K Nelson". Bloomberg.com. Bloomberg L.P. Retrieved 23 September 2015.
  3. "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.
  4. "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.
  5. "Company Info, SPS Commerce Inc". WSJ.com. Wall Street Journal. Retrieved 14 December 2020.
  6. Grayson, Katharine (28 June 2010). "Now public, SPS Commerce plans to keep hiring". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
  7. Willard, Elizabeth (23 August 2013). "No. 3 medium company: SPS Commerce Inc". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
  8. "SPS Commerce positioning retail supply-chain software for global presence". TheLineMedia.com. The Line Media. Retrieved 23 September 2015.
  9. "SPS Commerce lands at No. 1 on Top Workplaces list of large companies". StarTribune.com. Minneapolis Star Tribune. Retrieved 23 September 2015.
  10. "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.
  11. "Company profile: SPS Commerce". Inc.com. Inc. Magazine. Retrieved 12 March 2014.
  12. "Profile SPS Commerce, Inc". Finance.Yahoo.com. Yahoo Finance. Retrieved 12 March 2014.
  13. "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.
  14. Reilly, Mark (11 June 2001). "SPS Commerce raises another $10M to expand". BizJournals.com. Minneapolis / St. Paul Business Journal. Retrieved 12 March 2014.
  15. "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek.com. BusinessWeek. Archived from the original on 13 March 2014. Retrieved 12 March 2014.
  16. Pimentel, Benjamin (22 April 2010). "Three tech firms debut in busy IPO day". MarketWatch.com. MarketWatch. Retrieved 12 March 2014.
  17. "Logistics technology: SPS Commerce acquires Direct EDI". LogisticsMgmt.com. Logistics Management. Retrieved 23 September 2015.
  18. "SPS Commerce acquires business data service Edifice for $26 million". TwinCities.com. Pioneer Press. Retrieved 23 September 2015.
  19. Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". ZDNet.com. ZDNet. Retrieved 23 September 2015.
  20. "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". StarTribune.com. Star Tribune. Retrieved 31 December 2018.
  21. "SPS Commerce snaps up Texas tech company for $23M". BizJournals.com. 19 December 2018. Retrieved 31 December 2018.
  22. "SPS Commerce acquires Data Masons". GlobeNewswire.com. 17 December 2020. Retrieved 17 December 2020.
  23. "SPS Commerce names Thingelstad chief technology officer". BizJournals.com. August 2013. Retrieved 31 December 2018.
  24. Boulton, Clint (30 March 2015). "Former Target CIO Beth Jacob lands at SPS Commerce". Blogs.WSJ.com. Wall Street Journal.
  25. Kumar, Kavita. "SPS Commerce hires former Target tech executive". StarTribune.com. Minneapolis Star Tribune.
  26. "Dan Juckniess joins SPS Commerce as Chief Sales Officer". MarketCcreener.com. MarketScreener. Retrieved 31 December 2018.
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