TrueCommerce Acquisition of ecUtopia
Frequently Asked Questions
Who is ecUtopia?
Founded in 2011 and headquartered in San Diego, CA, ecUtopia, the Beyond EDI company, operates a best-in-class, cloud-based total supply chain management platform powered by EDI and B2B ECommerce methodologies. ecUtopia’s services, focused on enhancing all aspects of the supply chain, is a trusted B2B E-Commerce provider for thousands of private and publicly traded organizations worldwide. Each year since 2012, ecUtopia has grown 40% or more and in recognition of this growth. ecUtopia was named to the Inc. 5000’s list of the fastest growing companies in the United States for 2018. ecUtopia’s employees are regularly nominated for industry and trade organization awards by its customers for their outstanding support and customer service. For more information, visit http://www.ecutopia.com.
Who is TrueCommerce?
TrueCommerce is the most complete way to connect your business across the supply chain, integrating everything from EDI, to inventory management, to fulfillment, to digital storefronts and marketplaces, to your business system, and to whatever comes next. To stay ahead in today’s dynamic global market, companies need to be able to do business in a lot of different directions at once. But too often, doing so means too many solutions and too much assembly required. For decades TrueCommerce has helped businesses be more connected, more supported, and more prepared for what’s next. That’s why thousands of companies – ranging from startups to the global Fortune 100, across various industries – rely on us. TrueCommerce. Do business in every direction.
For more information, visit http://www.truecommerce.com.
Who is Accel-KKR?
For over 15 years, Accel-KKR has been investing in mid-market software and technology enabled services firms with the goal of driving value for our portfolio company management teams and their employees as well as our investors. Accel-KKR has brought capital, expertise and a network of relationships to our portfolio companies, enabling them to grow faster and more profitably. Throughout the years, the firm has taken a collaborative approach to working with our management teams so that, together, we can help our companies reach their full potential. The firm has $4 billion in committed capital.
What made ecUtopia attractive to TrueCommerce and Accel-KKR?
First and foremost, TrueCommerce and Accel-KKR are attracted to profitable, well run businesses with a vision for the future. ecUtopia has a long history of profitable, year-over-year growth. We believe that we can assist in accelerating that growth through both our dynamic marketing engine and by providing access to our over 12,000 global network customers and 92,000 global trading partners. The ecUtopia leadership team did a tremendous job of telling their story and painting a vibrant picture of how the two organizations could successfully come together. TrueCommerce has grown to a nearly $100M dollar commerce network business by focusing on the needs of both the supplier and their trading partner customers. ecUtopia has achieved market leadership in several market segments such as the home furnishings and apparel industries. Their vertical expertise along with the advanced capabilities of the TrueCommerce network will create unmatched vertical strength and increase TrueCommerce competitiveness in those segments. We’ve been successful bringing companies together that have great technology, but more importantly have great people.
What will happen to the ecUtopia name?
There are no immediate plans to rename ectopy, however, eventually ecUtopia will be branded under the TrueCommerce brand.
Is there an immediate shift in strategy or market focus as a result of this transaction?
There are no immediate plans to shift ecUtopia strategy or focus. As part of the TrueCommerce community, ecUtopia customers can greatly benefit from TrueCommerce's portfolio of EDI, eCommerce, and unified commerce solutions to help them increase sales and reduce supply chain cost.
Is there an immediate organizational structure change as a result of this transaction?
While the general answer is that it will be “business as usual” for the moment, the opportunity arising from this acquisition is to integrate the ecUtopia operations into the TrueCommerce operations where it makes sense, allowing us to better serve both our ecUtopia and TrueCommerce customers. The San Diego office will operate as another Center of Excellence for TrueCommerce customers.
What is the product strategy for the ecUtopia products?
For the most part, the product strategy will remain intact. Over time, we will determine when and how we can extend TrueCommerce’s catalog of products and technologies to ecUtopia customers and offer additional services to help improve supply chain operations. In addition, ecUtopia's platform and technology represent the strong extension for our supplier enablement market and immediate effort will start to evaluate incorporating it into the TrueCommerce Foundry platform.
How will TrueCommerce invest in ecUtopia going forward?
We’ll be working with the ecUtopia management team in an ongoing fashion to determine how we can best assist in ecUtopia’s growth. Clearly, there are great opportunities to leverage investments in technology that TrueCommerce has made and continues to make with its global development team. It is our hope that we can accelerate ecUtopia’s current product plan and bring significant additional value through new tools and solutions from the TrueCommerce product portfolio.
Will customers see a disruption in service as a result of this?
We have taken great care to ensure there is no disruption in service to ecUtopia customers as a result of this transaction. Everything will operate as “business as usual.”
Who is Mike Cornell?
As CEO and member of the board of directors, Michael Cornell leads the overall corporate strategy and operations for TrueCommerce. Michael joined TrueCommerce in 2014 through the merger of HighJump with Accellos, a global supply chain execution software provider founded by Michael and his business partners in 2006. Michael brings extensive executive management experience and a proven record of success in building software companies that pride themselves in innovation, customer service and delivering value to their stakeholders.
Prior to Accellos, Michael was CEO of NxTrend Technology, the leading provider of distribution-centric ERP software in North America. During his tenure at NxTrend, Michael dramatically improved shareholder value resulting in the ultimate sale of the company to Infor in June of 2004. Previously, Michael was President of JBA Americas.
Michael was a semi-finalist for the 2014 EY Entrepreneur of the Year Award.
Who is Ross Elliott?
Ross Elliott leads the operations, customer relations, and overall product strategy and development for TrueCommerce. Ross joined TrueCommerce in 2014 through the merger of HighJump and Accellos. Ross was a co-founder of Accellos. He brings extensive expertise in supply chain operations, commerce networks and software product strategy. Ross has launched a series of platform technologies and new products to meet the needs of customers and help drive growth. He has facilitated numerous acquisitions to broaden product portfolios in support of the corporate vision. Ross is the overall architect for the TrueCommerce Foundry technology platform which consolidates acquired technologies on a common, modern technology architecture.
Prior to Accellos, Ross was the Vice President of Business Strategy for Infor Global Solutions. Ross worked with corporate marketing, sales and engineering to synthesize a strategy that provided value to the company and to its customers. Previously, Ross was the Vice President of Products and Strategy for NxTrend Technology.
Ross was awarded 2013 Pro to Know by Supply & Demand Chain Executive.
Who are the members of TrueCommerce’s leadership team?
The TrueCommerce executive leadership team consists of Mike Cornell, CEO; Flint Seaton, CFO; Ross Elliott, President TrueCommerce; David Grosvenor, Managing Director TrueCommerce Europe; Jakob Vestergaard, Country Manager Denmark & VP Services TrueCommerce Europe; Haitham Ghadiry, Sr. VP Sales & Marketing; Mike Gross, Sr. VP Customer Experience; Ryan Tierney, VP Product Management; Josh Wayne, VP Commerce Products; and Bud Mahoney, VP Information Systems. Each will be heavily involved in working with the ecUtopia leadership to ensure a successful, non-disruptive integration of the businesses.