A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Golden Gate has made an investment in Ecometry Corp. that will buy out founders Will Smith and Allan Gardner. The company did not reveal the size of the investment.
Will Smith and Allan Gardner, two pioneers of the e-commerce software industry, are retiring with the recapitalization of their company. Smith and Gardner, who founded Ecometry Corp., formerly known as Smith-Gardner, have been bought out by Golden Gate Capital. Ecometry provides multi-channel software to the retail industry. It was formerly known as Smith-Gardner and was an early provider of software to online retailers.
"We are very excited to invest in Ecometry," said David Dominik, managing director at Golden Gate Capital. "Ecometry is the clear product leader and offers a strong platform to address the complex needs of the multi-channel retail marketplace. With its experienced management team and deep financial backing from Golden Gate Capital, Ecometry is well positioned to grow both organically and via acquisitions.” Golden Gate’s companies have aggregate revenue of $1.2 billion.
John Marrah, president and CEO of Ecometry, will continue in that position. The amount of the investment was not revealed.
Ecometry`s flagship product, Ecometry Commerce Suite, processes up to 400,000 orders per day and provides customer service and order management functions. The company has more than 200 customers, including Nordstrom, Urban Outfitters, Coach, Brookstone, and Lego.
Golden Gate Capital is a San Francisco-based private equity investment firm with $2.5 billion of capital under management. It targets investments of up to $100 million where it believes there is opportunity to significantly enhance a company`s value.