NetSuite acquires Venda for e-commerce capabilities
It was announced recently that NetSuite, a company that provides cloud software for business management, has acquired Venda, a cloud platform for e-commerce, according to an article in CRN. Venda is based in London and NetSuite is based in California. The terms of the deal were not disclosed.
As more businesses continue to move operations into the cloud, this acquisition strategy makes sense for a company that works to provide ways to enable these capabilities, especially as NetSuite expands into the European market and around the world.
The addition of Venda's capabilities will also enable NetSuite to provide its customers with more options for their business, allowing it to appeal to customers in need of technology that will help them run their e-commerce business.
"Venda has incredible technology, employees and customers. Combining those attributes with NetSuite's scale and leadership in cloud ERP and CRM technology, we are well positioned to meet the needs of our customers and execute on our vision of global commerce," said Venda CEO Eric Abensur in a press release.
It has been explained previously on this blog that a merger or acquisition is sometimes a way for companies to get ahead by gaining access to technology that allows them to expand their offerings, and position themselves as a more competitive player in the market. With the acquisition of Venda, NetSuite will be able to expand its reach and appeal to a wider range of customers.
For companies that have the goal of expanding into other markets, acquiring a company that already has a strong place in the market is one way of going about this. An M&A advisor can serve as a trusted resource to help plan your company's acquisition strategy.