In its second-largest acquisition, Amazon buys the company for $970 million.
Commerce Planet, a web-based marketing company, has agreed to acquire Iventa Corp., provider of enterprise-class e-commerce and subscription management technology. Customers include Sony/BMG, Warner Music, Dominion Enterprises, Guitar Center and MTV.
Commerce Planet Inc., a web-based marketing company, has agreed to acquire Iventa Corp., provider of e-commerce systems.
Iventa has developed an enterprise-class e-commerce and subscription management platform which it calls the Dashboard System. It counts among its customers Sony/BMG, Warner Music, Dominion Enterprises, Guitar Center, MTV and others. Commerce Planet says the acquisition of Iventa will greatly expand Commerce Planet’s software development capabilities with the addition of a 24-hour, 30-person programming team in the U.S. and India.
“By combining Iventa’s customer base and many software systems, including the Dashboard System, with our significant technology platform and state of the art call center, we will be able to more rapidly develop and leverage strong relationships with enterprise clients and expand our reach into the B2B space,” says Michael Hill, Commerce Planet CEO.
“The combined strength of Iventa and Commerce Planet will quickly position us as a powerful force in the SaaS e-commerce space,” says Jamison Stafford, founder and chief qrchitect of Iventa. “Iventa’s major enterprise client releases expected for the fourth quarter of 2007, combined with a new ‘lite’ version of the Dashboard System 2.0, are designed to penetrate the SMB/start-up market, including Commerce Planet’s Online Supplier customers.”
Commerce Planet’s subsidiaries Consumer Loyalty Group LLC, Legacy Media LLC, OS Imaging LLC and Interaccurate LLC deliver membership loyalty programs, direct response consumer marketing, affiliate list management, e-mail deployment, live chat software-based services, direct phone sales and customer service, and printing services.