TradeCard and GT Nexus Merge
GT Nexus and TradeCard are merging. The two companies manage physical and financial supply-chain processes using a cloud-based model for businesses around the globe.
GT Nexus provides cloud-based logistics and global transportation-control solutions for manufacturers, retailers and logistics service providers. TradeCard provides cloud-based financial supply chain and production solutions for retail and consumer soft goods.
“[We] 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, chief executive officer of TradeCard. “The strengths of each company are highly complementary and will offer customers a complete solution, covering the entire supply chain–execution lifecycle, from sourcing of goods to final delivery and payment.”
Together, the companies will have a global network of over 20,000 businesses spanning every major industry, from retail and apparel to high tech, automotive, heavy industry, consumer products, pharmaceutical, finance and logistics and manage over $100 billion in direct supply-chain trade.
TradeCard, which is headquartered in New York, provides a platform for more than 200 service providers, including financial institutions, logistics services providers, customs brokers and agents. Some of the world’s best-known retailers and brands—including Levi Strauss & Co., ColumbiaSportswear and Guess—use the TradeCard platform and its member network for sourcing and global trade. TradeCard helps its clients monitor key production steps and connect on a single platform, from planning through delivery to integrating the financial and physical supply chain to improve margins, cash flow and business growth.
“Our customers are the biggest winners in this merger,” said Aaron Sasson, CEO of GT Nexus. “It’s a true merger of equals. Together, we offer a single cloud network for enabling business processes across global trade networks—an enormous and still-untapped opportunity for the vast majority of companies who have been struggling to take their businesses to the next level with complicated ERP [enterprise resources planning] systems.”
The merged company will be based in Oakland, Calif., with regional offices around the world. TradeCard CEO Sean Feeney will assume the title of CEO of the merged company. GT Nexus CEO Aaron Sasson will assume the title chairman of the board, and TradeCard Founder Kurt Cavano will be vice chairman.