;
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

Textile-garment park inaugurated in Ethiopia's Jimma

Textiles | On 15th Dec 2018

Textile-garment park inaugurated in Ethiopia's Jimma

President Omar al-Bashir of Sudan, President Ismail Omar of Djibouti...

Some trying to create unrest over wages: Bangla minister

Textiles | On 15th Dec 2018

Some trying to create unrest over wages: Bangla minister

Some people are trying to create unrest in Bangladesh over the...

Condition of Cambodian garment workers improves: ILO

Apparel/Garments | On 15th Dec 2018

Condition of Cambodian garment workers improves: ILO

Cambodia has seen remarkable improvements in labour standards in the...

Interviews View All

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

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

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


December 2018

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

news category


Related Categories:

Advanced Search