In its second-largest acquisition, Amazon buys the company for $970 million.
As retailers move further into exchanging data over the web with their trading partners, Global eXchange Services is targeting its own growth with a new CEO steeped in data integration experience. Gary Greenfield, former head of infrastructure management software provider Peregrine Systems, expects GXS to continue moving beyond its traditional EDI services to support Internet data exchange standards.
As the retail industry moves further into web-based data communication services that help merchants exchange information with their trading partners more accurately and efficiently, Global eXchange Services is targeting its own growth as a major provider in this market with a new top executive steeped in data management services. “Retail continues to be our strongest market, as more retailers are coming to us to deliver solutions that incorporate the new realities of doing business brought about by the Internet and global suppliers,” says Gary Greenfield, who recently took over as CEO. He succeeds Harvey F. Seegers.
GXS expects to continue moving beyond its traditional market of providing EDI services, through which large retailers exchange data with trading partners over a private network, to serve a growing demand for new Internet data communication standards like AS2. The use of AS2, which provides a highly secure means of sending data over the Internet, is being mandated by Wal-Mart Stores Inc., The Home Depot and other larger retailers for their suppliers.
Before joining GXS, Greenfield steered Peregrine, a provider of infrastructure management software, through a reorganization under U.S. Bankruptcy Court.