SPS Commerce

SPS Commerce, Inc.

Type| Public

Traded as

| NASDAQ: SPSC
S&P 600 Component
Industry| Technology – application software
Founded| 1987
Founder| Gary W Anderson [citation needed]
Headquarters|

Minneapolis, Minnesota

United States

Key people

| Archie C. Black (CEO, Director)[1]

Kimberly K. Nelson [2]
(Chief Financial Officer, and Principal Accounting Officer)
James J. Frome
(Chief Operating Officer, President)

Jamie Thingelstad [3]
(Chief Technology Officer)
Services| Supply chain management solutions[buzzword], EDI
Revenue| $ 279.1M (2019) [4]

Number of employees

| 1,363 (2019) [5]
Website| www.spscommerce.com

SPS Commerce is a corporation based in the United States that provides cloud-based supply chain management software to retailers, suppliers, third-party logistics providers and partners.[6] The company's headquarters are located in Minneapolis, Minnesota,[7] but also has a US office in New Jersey, and international locations in Beijing, Hong Kong, Sydney, Melbourne, Toronto, and Kyiv.[8] In 2015, the Minneapolis Star Tribune reported that SPS Commerce was ranked by WorkplaceDynamics as the best large workplace in Minnesota.[9] SPS was also ranked among the top 10 fastest growing publicly traded companies in Minnesota in 2014.[10]

## History

The company was founded in 1987[11] under the name St. Paul Software.[12] In 2000, the company sold its software business to Netherlands-based TIE Commerce.[13] After the sale, the company primarily offered Internet-based business-to-business exchanges for retailers and manufacturers.[14] St. Paul Software was renamed SPS Commerce in May 2001.[15] SPS Commerce went public in April 2010 when it debuted on the NASDAQ global market.[16] SPS has enjoyed 88 consecutive quarters of growth, most of which has been organic. They do acquire companies in their space where it makes sense, notably:

\- 2011: acquired San Diego-based EDI services company Direct EDI for $10.9M, adding 40 employees in a San Diego office and a development group in Ukraine .[17]

\- 2012: purchased New Jersey-based data analytics firm Edifice for $26M[18]

\- 2014: $14.9M acquisition of LeadTec, an EDI provider headquartered in Melbourne, Australia.[19]

\- 2016: $23M acquisition of ToolBox Solutions [20]

\- 2018: $23M acquisition of CovalentWorks [21]

\- 2019: $11.5M acquisition of long-term technology partner MAPADOC

\- 2020: $100M acquisition of Data Masons [22]

\- 2021: $17M acquisition of Genius Central

\- 2022: $45M acquisition of GCommerce

\- 2022: $49M acquisition of InterTrade

In addition to acquiring companies, SPS has been busy acquiring executives to newly created roles to expand the executive team and help drive the company forward

\- 2013: SPS hired former Dow Jones CTO Jamie Thingelstad to be CTO [23]

\- 2015: SPS hired former Target Corp CIO Beth Jacob in an executive role.[24][25]

\- 2016: SPS hired Dan Juckniess as CRO [26]

## References

1. ↑ "Executive Profile, Archie C Black". Bloomberg. https://www.bloomberg.com/research/stocks/people/person.asp?personId=594996&ticker=SPSC. Retrieved 23 September 2015.
2. ↑ "Executive Profile, Kimberly K Nelson". Bloomberg. https://www.bloomberg.com/research/stocks/people/person.asp?personId=39435211&ticker=SPSC. Retrieved 23 September 2015.
3. ↑ Thingelstad, Jamie (21 Nov 2013). "Meet a Minnesota CTO: Jamie Thingelstad" (Interview). Interviewed by TECHdotMN. Minneapolis. Retrieved 23 September 2015.
4. ↑ "SPS Commerce Reports Fourth Quarter and Full Year 2019 Financial Results" (Press release). Minneapolis. 13 February 2020. Retrieved 2020-12-14.
5. ↑ "Company Info, SPS Commerce Inc.". Wall Street Journal. http://quotes.wsj.com/SPSC/company-people. Retrieved 2020-12-14.
6. ↑ Grayson, Katharine. "Now public, SPS Commerce plans to keep hiring". Minneapolis/St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2010/06/28/story3.html?page=all. Retrieved 12 March 2014.
7. ↑ Willard, Elizabeth. "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?page=all. Retrieved 12 March 2014.
8. ↑ "SPS Commerce positioning retail supply-chain software for global presence". The Line Media. http://www.thelinemedia.com/innovationnews/sps12172014.aspx. Retrieved 23 September 2015.
9. ↑ "SPS Commerce lands at No. 1 on Top Workplaces list of large companies". Minneapolis Star Tribune. http://www.startribune.com/sps-commerce-lands-at-no-1-on-top-workplaces-list-of-large-companies/307168321/. Retrieved 23 September 2015.
10. ↑ "Digital River's exit leaves just one software company on MN's Top 100 Public List". Minneapolis St Paul Business Journal. http://www.bizjournals.com/twincities/blog/in_private/2014/10/digital-river-s-exit-leaves-just-one-software.html. Retrieved 23 September 2015.
11. ↑ "Company Profile SPS Commerce". Inc. Magazine. http://www.inc.com/profile/sps-commerce. Retrieved 12 March 2014.
12. ↑ "Profile SPS Commerce, Inc.". Yahoo Finance. https://finance.yahoo.com/q/pr?s=SPSC+Profile. Retrieved 12 March 2014.
13. ↑ "SPS Solutions Joins TIE Commerce; SPS Solutions Expands Its B2B Product and Service Offerings" (Press release). St. Paul Minnesota. PR News Wire. 2000-04-18. Retrieved 2015-09-28.
14. ↑ Reilly, Mark. "SPS Commerce Raises Another $10M to Expand". Minneapolis/St. Paul Business Journal. http://www.bizjournals.com/twincities/stories/2001/06/11/story3.html?page=all. Retrieved 12 March 2014.
15. ↑ "SPS Commerce Inc (SPSC:NASDAQ GS)". BusinessWeek. http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SPSC. Retrieved 12 March 2014.
16. ↑ Pimentel, Benjamin. "Three tech firms debut in busy IPO day". MarketWatch. http://www.marketwatch.com/story/three-tech-companies-highlight-busy-ipo-day-2010-04-22. Retrieved 12 March 2014.
17. ↑ "Logistics technology: SPS Commerce acquires Direct EDI". Logistics Management. http://www.logisticsmgmt.com/article/sps_commerce_acquires_direct_edi. Retrieved 23 September 2015.
18. ↑ "SPS Commerce acquires business data service Edifice for $26 million". Pioneer Press. http://www.twincities.com/ci_21255279/sps-commerce-acquires-business-data-service-edifice-26. Retrieved 23 September 2015.
19. ↑ Spencer, Leon. "Australia's Leadtec snapped up in $14.9m SPS Commerce deal". ZDNet. http://www.zdnet.com/article/australias-leadtec-snapped-up-in-14-9m-sps-commerce-deal/. Retrieved 23 September 2015.
20. ↑ "SPS Commerce buys Canadian data analytics firm ToolBox Solutions". http://www.startribune.com/sps-commerce-buys-canadian-data-analytics-firm/364399231/.
21. ↑ "SPS Commerce snaps up Texas tech company for $23M". https://www.bizjournals.com/twincities/news/2018/12/19/sps-commerce-snaps-up-texas-tech-company-for-23m.html.
22. ↑ "SPS Commerce Acquires Data Masons". https://www.globenewswire.com/news-release/2020/12/17/2146886/0/en/SPS-Commerce-Acquires-Data-Masons.html.
23. ↑ "SPS Commerce names Thingelstad chief technology officer". https://www.bizjournals.com/twincities/blog/in_private/2013/08/sps-commerce-names-thingelstad-chief.html.
24. ↑ Boulton, Clint. "Former Target CIO Beth Jacob Lands at SPS Commerce". Wall Street Journal. https://blogs.wsj.com/cio/2015/03/30/former-target-cio-beth-jacob-lands-at-sps-commerce/.
25. ↑ Kumar, Kavita. "SPS Commerce hires former Target tech executive". Minneapolis Star Tribune. http://www.startribune.com/sps-commerce-hires-former-target-tech-executive/297305821/.
26. ↑ MarketScreener. "Dan Juckniess Joins SPS Commerce as Chief Sales Officer | MarketScreener" (in en). https://www.marketscreener.com/SPS-COMMERCE-INC-6151939/news/Dan-Juckniess-Joins-SPS-Commerce-as-Chief-Sales-Officer-21956530/.

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