January 7, 2013
OAKLAND, California–Two companies that offer cloud-based supply chain software solutions are becoming one entity.
GT Nexus and TradeCard have signed a merger agreement.
Once finalized, the new business will be headquartered in Oakland, California. The company’s leadership will be comprised of a team of executives from both businesses. The CEO will be current TradeCard CEO Sean Feeney. GT Nexus CEO Aaron Sasson will chair the board of the company. Kurt Cavano, founder of TradeCard will be vice-chair.
“Both companies share a common technology vision that networked platforms, delivered in the cloud, is the path forward for companies that source and sell goods globally,” said Sean Feeney, CEO of TradeCard.
Commenting on the deal, Aaron Sasson, said, “It’s a true merger of equals.”
In a jointly issued statement, the companies claim the new business will manage over $100 billion in direct supply chain trade.
Oakland, California-based GT Nexus’ global trading platform enables multi-enterprise co-operation. TradeCard, which is based in New York, New York, specialize in multi-layered sourcing transactions.