Acquiring

NetSuite Acquires Ecommerce Software Vendor

NetSuite announced last week that it had acquired Venda, an eCommerce solutions provider. According to a NetSuite press release, the move is expected to build on the momentum of NetSuite SuiteCommerce globally, and will support NetSuite’s business expansion into the European market.

Additionally, company executives said that the acquisition will help the companies deliver the capabilities that businesses need to deliver a streamlined, omnichannel commerce experience to consumers and businesses.

NetSuite CEO Zach Nelson explained in a company statement that Venda “pioneered the concept of bringing commerce to the cloud and their expertise in supporting the needs of companies throughout Europe,” and that the partnership will be a good match.

“By combining Venda’s deep customer insight and years of experience delivering a real-time, scalable commerce platform with NetSuite’s cloud leadership, we can bring new capabilities to B2B and B2C companies of all sizes and transform how they run their businesses,” Nelson said.

Venda CEO Eric Abensur believes that “combining his organization’s technology, employees and customers with NetSuite’s scale and leadership in cloud ERP and CRM technology”, positions them well to “execute on our vision of global commerce.”

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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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