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SPS Commerce

Topic: Company

 From HandWiki - Reading time: 4 min

SPS Commerce, Inc.
TypePublic
NASDAQ: SPSC
S&P 600 Component
IndustryTechnology – application software
Founded1987; 39 years ago (1987)
Headquarters
Minneapolis, Minnesota
,
United States
Key people
  • Chad Collins (CEO
  • executive chairman)[1]
  • Kimberly K. Nelson[2]
    (Chief Financial Officer, and Principal Accounting Officer)
  • Jamie Thingelstad[3] (CTO)

Dan Juckniess (EVP) | (CRO)

Mike Svatek (CPO)

Erica Koenig (SVP) | (CHRO)
ServicesSupply chain management solutions, EDI
Revenue$536.9 million (2023)[4]
Number of employees
2,489 (2023)[5]
Websitewww.spscommerce.com

SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software.[6] The company's headquarters are located in Minneapolis, Minnesota,[7] but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.[8]

History

The company was founded in 1987; 39 years ago (1987),[9] under the name St. Paul Software.[10] In 2000, the company sold its software business to Netherlands-based TIE Commerce.[11] After the sale, the company primarily offered internet-based business-to-business (B2B) exchanges for retailers and manufacturers.[12] St. Paul Software was renamed SPS Commerce in May 2001.[13] SPS Commerce went public in April 2010 when it debuted on the NASDAQ global market.[14]

Acquisitions:

  • 2011: acquired San Diego–based EDI services company Direct EDI for $10.9 million, adding 40 employees in a San Diego office and a development group in Ukraine.[15]
  • 2012: purchased New Jersey–based data analytics firm Edifice for $26M[16]
  • 2014: $14.9M acquisition of LeadTec, an EDI provider headquartered in Melbourne, Australia.[17]
  • 2016: $23M acquisition of ToolBox Solutions [18]
  • 2018: $23M acquisition of CovalentWorks[19]
  • 2020: $100M acquisition of Data Masons[20]
  • 2021: $17M acquisition of Genius Central [21]
  • 2022: $45M acquisition of GCommerce [22]
  • 2022: $49M acquisition of InterTrade[23]
  • 2023: €64.5M acquisition of TIE Kinetix[24]
  • 2024: $25M acquisition of Traverse Systems[25]
  • 2024: $206M acquisition of SupplyPike[26]
  • 2025: $210M acquisition of Carbon6[27]


In December 2025, activist investor Anson Funds Management disclosed a stake in SPS Commerce and pushed the company to explore a sale and consider management changes, arguing the stock price lagged competitors by 40% to 60%.[28]

References

  1. ↑ "SPS Commerce Leadership". https://www.spscommerce.com/about/sps-commerce-leadership/#:~:text=CEO,of%20directors%20since%20October%202023.&text=He%20has%20a%20Bachelor%20of,from%20the%20University%20of%20Minnesota.. 
  2. ↑ "Executive profile, Kimberly K Nelson". Bloomberg L.P.. https://www.bloomberg.com/research/stocks/people/person.asp?personId=39435211&ticker=SPSC. 
  3. ↑ "Meet a Minnesota CTO: Jamie Thingelstad". Tech.mn (Interview). Interviewed by TECHdotMN. Minneapolis. 21 November 2013. Archived from the original on 11 December 2013. Retrieved 23 September 2015.
  4. ↑ "SPS Commerce reports fourth quarter and full year 2022 financial results". SPSCommerce.com (Press release). Minneapolis: SPS Commerce Inc. 13 February 2020. Retrieved 14 December 2020.
  5. ↑ "Company Info, SPS Commerce Inc.". Wall Street Journal. http://quotes.wsj.com/SPSC/company-people. 
  6. ↑ Grayson, Katharine (28 June 2010). "Now public, SPS Commerce plans to keep hiring". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2010/06/28/story3.html. 
  7. ↑ Willard, Elizabeth (23 August 2013). "No. 3 medium company: SPS Commerce Inc.". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/print-edition/2013/08/23/3-medium-company-sps-commerce.html. 
  8. ↑ "SPS Commerce positioning retail supply-chain software for global presence". The Line Media. http://www.thelinemedia.com/innovationnews/sps12172014.aspx. 
  9. ↑ "Company profile: SPS Commerce". Inc. Magazine. http://www.inc.com/profile/sps-commerce. 
  10. ↑ "Profile SPS Commerce, Inc.". Yahoo Finance. https://finance.yahoo.com/q/pr?s=SPSC+Profile. 
  11. ↑ "SPS Solutions joins TIE Commerce; SPS Solutions expands its B2B product and service offerings". PRNewsWire.com (Press release). St. Paul Minnesota: PR News Wire. 18 April 2000. Retrieved 2015-09-28.
  12. ↑ Reilly, Mark (11 June 2001). "SPS Commerce raises another $10M to expand". Minneapolis / St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2001/06/11/story3.html. 
  13. ↑ "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek. http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SPSC. 
  14. ↑ Pimentel, Benjamin (22 April 2010). "Three tech firms debut in busy IPO day". MarketWatch. http://www.marketwatch.com/story/three-tech-companies-highlight-busy-ipo-day-2010-04-22. 
  15. ↑ "Logistics technology: SPS Commerce acquires Direct EDI". Logistics Management. http://www.logisticsmgmt.com/article/sps_commerce_acquires_direct_edi. 
  16. ↑ "SPS Commerce acquires business data service Edifice for $26 million". Pioneer Press. 6 August 2012. http://www.twincities.com/ci_21255279/sps-commerce-acquires-business-data-service-edifice-26. 
  17. ↑ Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". https://www.zdnet.com/article/australias-leadtec-snapped-up-in-14-9m-sps-commerce-deal/. 
  18. ↑ "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". Star Tribune. 7 January 2016. http://www.startribune.com/sps-commerce-buys-canadian-data-analytics-firm/364399231/. 
  19. ↑ "SPS Commerce snaps up Texas tech company for $23M". 19 December 2018. https://www.bizjournals.com/twincities/news/2018/12/19/sps-commerce-snaps-up-texas-tech-company-for-23m.html. 
  20. ↑ "SPS Commerce acquires Data Masons". GlobeNewswire.com (Press release). 17 December 2020. Retrieved 17 December 2020.
  21. ↑ "SPS Commerce Acquires Genius Central". November 3, 2021. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquires-genius-central. 
  22. ↑ "SPS Commerce Acquires GCommerce". July 20, 2022. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquires-gcommerce. 
  23. ↑ "SPS Commerce acquires InterTrade". 31 May 2024. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquires-intertrade-systems-inc#:~:text=Acquisition%20Details,million%2C%20net%20of%20cash%20acquired.. 
  24. ↑ "SPS Commerce acquires TIE Kinetix". 24 April 2024. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquire-tie-kinetix#:~:text=Acquisition%20Details,million%2C%20net%20of%20cash%20acquired.. 
  25. ↑ "SPS Commerce acquires Traverse Systems". 31 May 2024. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquires-traverse-systems#:~:text=Acquisition%20Details,million%2C%20net%20of%20cash%20acquired.. 
  26. ↑ "SPS Commerce Acquires SupplyPike". 1 Aug 2024. https://investors.spscommerce.com/news-releases/news-release-details/sps-commerce-acquires-supplypike. 
  27. ↑ "SPS Commerce Completes Acquisition of Carbon6 Technologies" (Press release). GlobeNewswire. February 7, 2025. Retrieved October 5, 2025.
  28. ↑ "Anson Pushes SPS Commerce to Explore Sale, Management Changes". December 9, 2025. https://www.bloomberg.com/news/articles/2025-12-09/anson-pushes-sps-commerce-explore-sale-management-changes. 



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