Huge merger of GT Nexus and TradeCard
Joint cloud platform of GT Nexus and TradeCard for transactions of goods and merchandises worth more than EUR 75 billion
At the start of the week GT Nexus and TradeCard announced their merger creating the world’s biggest cloud-based business network for global trade and supply chain management. The companies are market leaders and pioneers in cloud-based technology platforms that link companies in commerce networks. Both operate electronic system solutions, that the world’s leading companies use to manage product and financial supply chain processes on a global scale with thousands of trading partners.
As a result of this merger, the combined entity becomes the world’s biggest cloud information utility, with a global network of over 20,000 enterprises from all industries: from retail and high tech to automotive, heavy industry, consumer products and textiles, pharmaceutical, chemicals, commodities, finance and logistics. Transactions of goods and commodities of a total value of over EUR 75 billion will be handled via the platform per year.
The merged company, to be headquartered in Oakland, California, will serve its customers through a global network of regional offices around the world. TradeCard CEO Sean Feeney will be CEO of the merged company; GT Nexus CEO Aaron Sasson will be chairman of the supervisory board. More details about the company name and management structure will be announced when the transaction is completed. The merger is subject to customary closing conditions and clearance from antitrust regulatory authorities.
Quelle: LogEastics
Portal: www.logistik-express.com