Home / Knowledge / News / Information Technology / CDC completes definitive agreement to acquire Truition
CDC completes definitive agreement to acquire Truition
24
Nov '09
CDC Software Corporation, a global provider of enterprise software applications and services, announced it has completed a definitive agreement to acquire Truition Inc., a leading On Demand e-Commerce platform provider for retailers and brand manufacturers. This represents a move that not only opens up the business to-consumer market for CDC Software solutions, but helps to position CDC Software at the forefront in the enterprise market with its ability to offer an end-to-end supply chain execution solution from raw materials to the end consumer.

The closing of the Truition acquisition is expected to occur within the next two weeks and is subject to normal and customary closing conditions. This acquisition represents the first of the two previously announced software-as-a-service (SaaS) companies it plans to acquire as part of its roll-up strategy to acquire SaaS companies that complement its on-premise solutions. CDC Software's SaaS roll-up strategy focuses on key verticals that include retail, financial services, consumer electronics, apparel, consumer packaged goods (CPG), non-profit, travel/leisure/loyalty and sports/entertainment.

With these planned acquisitions, CDC Software enters a market space that is showing projected strong growth. According to Gartner's May 2009, “Market Trends: SaaS report for 2008-2013,” Gartner is projecting the worldwide SaaS market, currently $6 billion in 2008, will show consistent growth through 2013 when it is expected to total more than $14 billion for the enterprise application market.

Founded in 1998, venture capital-backed Truition has delivered SaaS e-commerce solutions to some of the leading global brands that include Sirius XM Satellite Radio, Dell Financial Services, Fujitsu, Philips, Major League Baseball, Wolford, Genco, American Airlines, National Football League (NFL), National Basketball Association (NBA), Sears, Starwood United Airlines and National Hockey League (NHL), to name a few. Based in Toronto, Canada, Truition serves more than 150 customers in 10 countries. Its e-commerce platform includes unique functionality such as both traditional “fixed price” and online auction software, full front-end and back-end capabilities such as inventory and order management, community shops, multilanguage/currency, and an industry-leading “time to install”. Truition's products complement CDC Software's comprehensive list of vertical industries.

“We believe this acquisition will be earnings accretive immediately and holds a compelling valuation,” said Bruce Cameron, president of CDC Software. “Truition helps us gain a strong foot hold in the SaaS market, and we believe it opens up the B2C market for our solutions. Truition now enables CDC Software to have a hybrid architecture to offer customers the choice of an on-premise solution or an on–demand offering, depending on what best fits their specific business needs. We also believe we are the only enterprise vendor that can now offer an end-to-end supply chain execution solution that addresses each touch point in the supply chain - from the supplier of the raw materials to the end consumer. From a revenue perspective, we believe there are numerous cross-sell opportunities with our CDC Supply Chain and Front Office solutions, especially with our installed base customers operating in the financial services and retail markets. Truition solutions can enhance our customers' online brand presence, as well as potentially help to increase their online sales worldwide.


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search