Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The alliance offers discounts and comprehensive returns management to Altura’s online catalog marketplace.
Returns Online Inc., provider of a start-to-finish returns management outsourcing solution for the retail supply chain, and Altura International, builder of online catalog shopping malls, have created a strategic alliance to bring returns management services to Altura`s broad base of merchant customers.
The agreement introduces Returns Online`s services to Altura`s custom mall sites and its flagship catalog shopping mall, CatalogCity.com , representing more than 600 catalog merchants. Under the joint marketing agreement, Altura will recommend Returns Online`s services to its merchant client base. Early adopters to the service, introduced through Altura, will receive a promotional discount in returns processing and account management fees. "We are always looking for companies that can deliver more value to our merchant base," said Lee Lorenzen, chief executive officer of Altura International. "As we speak with our merchants, they tell us about their businesses and their challenges. We believe the solution offered by Returns Online is an opportunity for each of our customers to significantly enhance the total customer experience during the product return transaction."
According to Forrester Research, by 2003 merchants will have spent $9 billion per year to process an estimated $11.5 billion in online returns.