Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Access Commerce, a provider of multi-channel e-commerce technology, plans to use its capital boost to expand its market reach in the U.S. as well as in Europe, it says.
Access Commerce, a provider of multi-channel e-commerce technology, plans to use €3.8 million ($4.85 million) raised through a stock issue to expand its market reach in the U.S. as well as in Europe and further develop its e-commerce software, the company says.
Access Commerce, which is based in Toulouse, France, and maintains its U.S. headquarters in the Chicago suburb of Skokie, IL, will also use the capital to continue its research and development efforts related to its e-commerce software applications, it says. The stock issue was handled by Bryan Garnier & Co.
"We are especially satisfied with having concluded this transaction in a context where the market was uncertain,” says Access Commerce CEO Jacques Soumeillan. “This confirms the confidence that investors have placed in our project and in our strategic vision.”
Access Commerce’s software helps retailers, manufacturers and distributors sell through web sites and call centers. Its Cameleon Commerce Suite, which includes order management, aggregates and standardizes product information between sellers and suppliers.
The vendor’s clients include Europe-based home improvement retailers Leroy Merlin Group and Lapeyre.