Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Gear Commerce is built on the Magento Enterprise e-commerce platform.
Gear Commerce Inc. last week launched new software for running business-to-business e-commerce sites.
Gear Commerce, which built its software on the Magento Enterprise e-commerce platform, was designed specifically for companies in such industries as manufacturing, construction, education, health services and transportation.
It provides such features as:
● Recurring orders and requests for quotes;
● Contract-based pricing;
● Order workflows, including order approvals;
● Product configurators.
Gear Commerce prices its e-commerce software platform at $49,500 per year, including what it calls a “Magento Enterprise production and development environment license.” It also offers its technology under a software-as-a-service model at a per-month price that varies “based on the required uptime, support, bandwidth and number of environments needed.” Magento is part of eBay Enterprise, a unit of eBay Inc.
Gear Commerce is operating mostly with funds provided by its founders, with additional funding from CEX Inc., a spokeswoman says.
David Bittinger, who is a senior advisor to the company and one of its investors, is the former head of Submodal, a Magento development partner that was sold in June to Mophie, a manufacturer of smartphone cases. Bittinger now also serves as Mophie’s senior director of I.T.
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