Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Global eXchange Services Inc. took a major step last month in its ability to help retailers and their suppliers share supply chain information by agreeing to acquire demand chain management vendor Haht Commerce.
With a new CEO experienced in growing companies through acquisition as well as internally, Global eXchange Services Inc. took a major step last month in its ability to help retailers and their suppliers share supply chain information. By agreeing to acquire demand chain management vendor Haht Commerce for $30 million in a cash and stock deal, GXS gained a stronger position in b2b data integration services, experts say.
Haht provides GXS with an industry-leading behind-the-firewall data repository system that has been proven in the market with consumer products manufacturers, says Kara Romanow, retail industry analyst with AMR Research Inc. This will enable GXS to support back-end-to-back-end data integration between retailers and suppliers, she adds. “GXS’s acquisition of Haht Commerce is a no-brainer and truly provides a complete data synchronization system,” Romanow says.
GXS CEO Gary Greenfield, a former CEO of asset management software vendor Peregrine Systems and other technology companies, says Haht fills a void GXS had faced in serving supply chains. “Our acquisition of Haht Commerce will give us the final, critical building block that will enable us to provide to the retail supply chain community a comprehensive solution for data synchronization and product information management,” he says. “We’ll offer deployment options that range from a hosted implementation, to software installed behind the customer’s firewall or a combination of both.”
The Haht technology suite includes a product information management application that can aggregate product data from multiple sources, including back-end ERP systems, and support data flow to multiple trading partners.