SPS Commerce
Powering Digital Retail Supply Chains

SPS Commerce Announces Planned Retirement of CEO

Monday, March 06, 2023

Archie Black to transition to Executive Chair of the Board upon appointment of successor

MINNEAPOLIS - SPS Commerce, Inc. (Nasdaq: SPSC), announced that its Chief Executive Officer, Archie Black, intends to retire from his role as CEO. Mr. Black will remain in the role through the completion of the search for his successor and through the transition process to ensure a seamless succession.

The Company’s Board of Directors has initiated an executive search for the next CEO. Once appointed, Mr. Black will transition from his position as CEO to the newly created role of Executive Chair of the Board. This transition is designed to provide leadership continuity and reflects the Company’s commitment to consistent execution, and its mission to be the world’s retail network.

“On behalf of the board of directors, the management team, and employees, I’d like to thank Archie for leading SPS Commerce for the past 22 years, charting the course and executing a strategy that has grown the Company from a groundbreaking, disruptive idea into a global powerhouse with the world’s leading retail network. Archie has relentlessly fostered a people-first culture, exceptional customer experience, and community support,” said Philip Soran, Chair of the Board. “During his tenure, the Company extended its global reach to over 115,000 customers, achieved 88 consecutive quarters of increased revenue, delivered significant shareholder value, and established a path for continued growth through tremendous go-to-market leverage.”

“Since 2001, I have had the opportunity to work with talented individuals who helped me to plan for, prepare, and execute a dramatic new course for our organization. Together, we have successfully capitalized on retail industry dynamics and became the world’s largest cloud retail network, while consistently delivering on our commitments to customers and shareholders,” said Mr. Black. “I am proud of our accomplishments, and I believe our strategy and our people position SPS Commerce for continued success and sustained, profitable growth.”

In his role as Executive Chair, Mr. Black will advise and support the new CEO on matters related to strategy and business development and assist with the CEO transition. SPS Commerce will continue to benefit from Mr. Black’s longstanding leadership, understanding of retail industry dynamics, and expertise in supply chain operations.

SPS Commerce to Acquire TIE Kinetix

Friday, July 28, 2023

MINNEAPOLIS, -- SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail cloud services, today announced that it has reached an agreement to acquire TIE Kinetix, a leading provider of supply chain digitalization including EDI and e-invoicing in Europe. The transaction is subject to customary closing conditions, including the approval of the shareholders of TIE Kinetix N.V.

“We are looking forward to welcoming TIE Kinetix employees and customers to our growing network of trading partners around the world,” said Archie Black, CEO of SPS Commerce. “With the acquisition of TIE Kinetix, SPS Commerce is strengthening its e-invoicing capabilities, while expanding our European presence to serve our growing network with access to international markets.”

“We are excited to join SPS Commerce and leverage TIE’s e-invoicing capabilities to capitalize on the opportunity presented by mandatory e-invoicing regulations across Europe,” said Jan Sundelin, CEO of TIE Kinetix. “Our offering will complement SPS’ next generation EDI solution and competitively position the combined company across the B2B and B2G markets.”

Acquisition Details

SPS Commerce is set to acquire the TIE Kinetix business for approximately €64.5 million, net of cash acquired, as per the terms of the purchase agreement. TIE Kinetix, established in 1987, is publicly traded on NYSE Euronext under the symbol TIE and has its headquarters in the Netherlands, with employees also located in France, Germany, and the United States.

TIE Kinetix will promptly convene an extraordinary general meeting of shareholders to vote on the transaction, among other matters.

The acquisition is expected to be completed in the third quarter of 2023, subject to the fulfillment of customary closing conditions. Until the closing, both companies will continue to operate independently.

SPS Commerce intends to finance the acquisition using its available cash.

Regarding the financial impact of the acquisition, SPS Commerce provided preliminary information based on current expectations:

● In the third quarter of 2023, the acquisition is projected to have a nominal impact on expected financial results, except for approximately $1 million in certain one-time deal-related costs.

● In the fourth quarter of 2023, the acquisition is anticipated to contribute about $3.9 million in revenue, with the acquired business's Adjusted EBITDA expected to be approximately ($500,000).

● For fiscal year 2024, the acquisition is expected to generate around $16.0 million in revenue and at least breakeven in Adjusted EBITDA.

●In fiscal year 2025, the acquisition is projected to contribute $2 million to $3 million to Adjusted EBITDA.

It is important to note that forward-looking measures and underlying assumptions involve significant known and unknown risks and uncertainties, and actual results may differ materially. Due to the uncertainty and complexity of predicting certain items within a reasonable range, the Company does not provide a reconciliation of the forward-looking non-GAAP financial measure, Adjusted EBITDA, to the most directly comparable GAAP financial measure, net income.

Further details on the acquisition will be provided during the Second Quarter Earnings conference call scheduled for July 27, 2023.

SPS Commerce Announces Purchase of Vision33’s SAP Business One (SAP B1) SPS Integration Technology

Wednesday, April 17, 2024

Long time partners come together to expand SPS Commerce’s leadership in full-service Electronic Data Integration (EDI) with System Automation for suppliers and trading partners



MINNEAPOLIS-SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, acquired SAP B1 SPS Integration Technology from Vision33, an expert in EDI system automation.



“We are pleased to welcome Vision33’s SAP B1 SPS integration employees to our growing team of retail management experts,” said Chad Collins, CEO of SPS Commerce. “Today’s complex environment means it’s critical for retailers and suppliers to build a resilient supply chain – and automation is a key component to doing so. With today’s news, SPS and Vision33 customers have access to market-leading enhanced retail and system expertise to drive automation throughout their workflows and business processes, setting them up for success, no matter what the future brings.”



As part of the World’s Retail Network, SPS customers benefit from resources that help them grow their business, including:



Access to the industry’s broadest trading community, which includes more than 120,000 trading partners to date in over 80 countries;

Superior integration with more than 400 leading accounting/ERP, e-commerce, warehouse management, and packing and shipping applications;

Expanded capabilities for connecting with global supply chain partners, such as third -party logistics providers (3PLs), international sourcing companies and factories;

Access to hundreds of pre-qualified technology companies and consulting firms to support the next phase of their business.

Collins continued: “SPS Commerce and Vision33 share a commitment to delivering a full-service customer experience, including market-leading technology and access to industry experts. We look forward to continuing this deep tradition alongside our new colleagues.”