Combined entity becomes world's largest premium Oracle Commerce managed service provider
TORONTO, Feb. 13, 2018 /CNW/ - Tenzing is pleased to announce its merger with Thinkwrap Commerce and Spark::red. The transaction creates a global commerce and information management services firm, with offices and employees in North America, Europe, Asia, and Africa. The company's head office will be in Toronto, Ontario.
The combined entity will be one of the largest premium Oracle Commerce ATG implementation and managed service providers in the world and a leading provider of SAP Hybris services. The new firm will offer unrivaled end-to-end commerce solutions and a broad array of products and services to accelerate enterprise retailers' and merchants' digital transformation.
"This is a landmark day for these three companies," said Tenzing CEO Bill Di Nardo. "This merger brings together some of the most experienced ecommerce minds in North America and puts them into one room for the benefit of our customers and the marketplace as a whole. The pace of change in retail and commerce is staggering, and only accelerating. This business combination will enable us to invest in the types of innovation our customers expect and need to keep up with that rate of change."
Since 2004, Ottawa-based Thinkwrap has delivered strategy, design, software development, and integration services to enterprise ecommerce companies worldwide like Aldo and Simons. Spark::red is the leading provider of high-end managed hosting for the Oracle Commerce platform serving well-known brands like Michael Kors and Vera Bradley. It was founded in 2007, and is headquartered in Redmond, Washington.
"This transaction puts us in a position to innovate quickly and build a leading suite of ecommerce applications and services," said Steve Byrne, CEO of Thinkwrap. "The decision to work with Tenzing and Spark::red gives us access to some of the best people in the ecommerce industry, and creates a compelling holistic offering for our clients."
"We think the combination is a perfect fit," said Spark::red Co-founder Russell Moore. "Spark::red has always been a leader in providing premium Oracle Commerce services; this merger allows us to expand our platform expertise, including into the public cloud."
Eventi Capital Partners led the Series D equity financing in support of this transaction, continuing its long-standing support of the company. Tenzing also worked with Layer7 Capital to secure supporting debt financing from BMO Bank of Montreal. Tenzing Chief Executive Officer Bill Di Nardo will remain as the CEO of the combined company. He will be supported by the senior management from all three companies, who are remaining with the combined entity as operators and shareholders.
The terms of the transaction were not disclosed. The deals closed in February 2018.
Tenzing deploys, manages and optimizes software and infrastructure for leading omnichannel and commerce platforms from partners such as Oracle Commerce, SAP Hybris, Intershop, Magento, and others. Tenzing provides solutions that enhance performance, maintain security and simplify compliance for leading retailers and manufacturers. Tenzing has offices and customers in the Americas, EMEA, and APAC, and is widely recognized as a high-growth company and industry leader. Learn more at www.Tenzing.com.
ABOUT THINKWRAP COMMERCE
Well-known brands turn to Thinkwrap Commerce to create strategic digital engagements when they want to grow revenue, increase online traffic, improve customer experience, grow a loyal customer base, achieve operational efficiencies and higher profits. From long-term strategic planning and well-architected design through robust development and ongoing optimization, we use the best available technologies to ensure our customers' online success. We connect the online, in-store, mobile, social, call-center and warehouse; delivering a seamless omni-channel ecommerce experience. To learn more, visit www.thinkwrap.com. Thinkwrap is an SAP Hybris Gold Partner. In 2017 it was a finalist for SAP Hybris Most Innovative Partner of the Year, and a finalist for SAP Hybris Service Delivery Partner of the Year, Americas in 2016.
Spark::red is a premier managed hosting provider specializing in the Oracle Commerce platform. Committed to industry best practices, we manage some of the highest revenue generating, most complex Oracle Commerce environments. We provide architect level support and deliver fully configured, secured, tuned and easily scalable hosting environments. Spark::red clients include multiple Fortune 1000 and IR Top 500 companies all over the world. Founded by Oracle Commerce architects in 2007, Spark:red has been delivering the platform specific services for nearly a decade. For more information visit www.sparkred.com.
ABOUT LAYER 7 CAPITAL
Layer 7 is a boutique investment bank focused on providing advisory services to companies within the Software-as-a-Service, Infrastructure-as-a-Service, Managed Services, Internet-of-Things and Artificial Intelligence / Robotics verticals. Visit www.layer7capital.com for more information.
For further information on BMO Bank of Montreal: https://www.bmo.com/main/business
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