SPS Commerce

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SPS Commerce, Inc.
Company typePublic
Nasdaq: SPSC
S&P 600 Component
IndustryTechnology – application software
Founded1987
FounderGary W Anderson [citation needed]
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[buzzword], EDI
Revenue$ 279.1M (2019) [4]
Number of employees
1,363 (2019) [5]
Websitewww.spscommerce.com

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]

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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