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

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]

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 (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 91 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. 1 2 "SPS Commerce Leadership". Retrieved 2023-10-28.
  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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