Company:SPS Commerce

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Short description: Software corporation headquartered in Minneapolis, Minnesota, USA
SPS Commerce, Inc.
TypePublic
NASDAQ: SPSC
S&P 600 Component
IndustryTechnology – application software
Founded1987; 37 years ago (1987)
FounderGary W Anderson[citation needed]
Headquarters
Minneapolis, Minnesota
,
United States
Key people
  • Chad Collins (CEO)[1]
  • Archie Black (Executive Chair) [1]
  • Kimberly K. Nelson[2]
    (Chief Financial Officer, and Principal Accounting Officer)
  • James J. Frome (Chief Operating Officer, President)
  • Jamie Thingelstad[3]
    (Chief Technology Officer)
ServicesSupply chain management solutions,[buzzword] 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; 37 years ago (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[citation needed]
  • 2020: $100M acquisition of Data Masons[22]
  • 2021: $17M acquisition of Genius Central[citation needed]
  • 2022: $45M acquisition of GCommerce[citation needed]
  • 2022: $49M acquisition of InterTrade[citation needed]

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. ↑ 1.0 1.1 "SPS Commerce Leadership". https://www.spscommerce.com/about/sps-commerce-leadership/#:~:text=CEO,of%20directors%20since%20October%202023.&text=He%20has%20a%20Bachelor%20of,from%20the%20University%20of%20Minnesota.. 
  2. ↑ "Executive profile, Kimberly K Nelson". Bloomberg L.P.. https://www.bloomberg.com/research/stocks/people/person.asp?personId=39435211&ticker=SPSC. 
  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.". Wall Street Journal. http://quotes.wsj.com/SPSC/company-people. 
  6. ↑ Grayson, Katharine (28 June 2010). "Now public, SPS Commerce plans to keep hiring". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2010/06/28/story3.html. 
  7. ↑ Willard, Elizabeth (23 August 2013). "No. 3 medium company: SPS Commerce Inc.". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/print-edition/2013/08/23/3-medium-company-sps-commerce.html. 
  8. ↑ "SPS Commerce positioning retail supply-chain software for global presence". The Line Media. http://www.thelinemedia.com/innovationnews/sps12172014.aspx. 
  9. ↑ "SPS Commerce lands at No. 1 on Top Workplaces list of large companies". Minneapolis Star Tribune. http://www.startribune.com/sps-commerce-lands-at-no-1-on-top-workplaces-list-of-large-companies/307168321/. 
  10. ↑ "Digital River's exit leaves just one software company on MN's Top 100 Public List". Minneapolis St Paul Business Journal. October 2014. http://www.bizjournals.com/twincities/blog/in_private/2014/10/digital-river-s-exit-leaves-just-one-software.html. 
  11. ↑ "Company profile: SPS Commerce". Inc. Magazine. http://www.inc.com/profile/sps-commerce. 
  12. ↑ "Profile SPS Commerce, Inc.". Yahoo Finance. https://finance.yahoo.com/q/pr?s=SPSC+Profile. 
  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". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2001/06/11/story3.html. 
  15. ↑ "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek. http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SPSC. 
  16. ↑ Pimentel, Benjamin (22 April 2010). "Three tech firms debut in busy IPO day". MarketWatch. http://www.marketwatch.com/story/three-tech-companies-highlight-busy-ipo-day-2010-04-22. 
  17. ↑ "Logistics technology: SPS Commerce acquires Direct EDI". Logistics Management. http://www.logisticsmgmt.com/article/sps_commerce_acquires_direct_edi. 
  18. ↑ "SPS Commerce acquires business data service Edifice for $26 million". Pioneer Press. http://www.twincities.com/ci_21255279/sps-commerce-acquires-business-data-service-edifice-26. 
  19. ↑ Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". ZDNet. http://www.zdnet.com/article/australias-leadtec-snapped-up-in-14-9m-sps-commerce-deal/. 
  20. ↑ "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". Star Tribune. http://www.startribune.com/sps-commerce-buys-canadian-data-analytics-firm/364399231/. 
  21. ↑ "SPS Commerce snaps up Texas tech company for $23M". 19 December 2018. https://www.bizjournals.com/twincities/news/2018/12/19/sps-commerce-snaps-up-texas-tech-company-for-23m.html. 
  22. ↑ "SPS Commerce acquires Data Masons". 17 December 2020. https://www.globenewswire.com/news-release/2020/12/17/2146886/0/en/SPS-Commerce-Acquires-Data-Masons.html. 
  23. ↑ "SPS Commerce names Thingelstad chief technology officer". August 2013. https://www.bizjournals.com/twincities/blog/in_private/2013/08/sps-commerce-names-thingelstad-chief.html. 
  24. ↑ Boulton, Clint (30 March 2015). "Former Target CIO Beth Jacob lands at SPS Commerce". Wall Street Journal. https://blogs.wsj.com/cio/2015/03/30/former-target-cio-beth-jacob-lands-at-sps-commerce/. 
  25. ↑ Kumar, Kavita. "SPS Commerce hires former Target tech executive". Minneapolis Star Tribune. http://www.startribune.com/sps-commerce-hires-former-target-tech-executive/297305821/. 
  26. ↑ "Dan Juckniess joins SPS Commerce as Chief Sales Officer". MarketScreener. https://www.marketscreener.com/SPS-COMMERCE-INC-6151939/news/Dan-Juckniess-Joins-SPS-Commerce-as-Chief-Sales-Officer-21956530/. 



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