HONG KONG, Sept. 13, 2023 /PRNewswire/ -- TradeBeyond, the leader of extended supply chain management solutions for private label and branded merchandise, announced today that it has acquired Pivot88, the trusted SaaS provider of quality, compliance, and traceability solutions to brands and retailers around the world.
Powered by Applied AI, Pivot88's platform enables a 360-degree view of products from cradle to grave, equipping retail businesses with actionable supply chain data to mitigate risk. The company orchestrates quality and compliance processes across more than 50,000 supply chain partners in 112 countries. Its customers include many of the world's largest and most recognizable brands and retailers.
This strategic acquisition reinforces TradeBeyond's commitment to offering the most comprehensive multi-enterprise platform to streamline retail supply chains, enabling businesses to bring products to market more efficiently, responsibly, and profitably. The combination of TradeBeyond's deep solutions in product development, sourcing, and supply chain management with Pivot88's rich, AI-powered functionality in quality, compliance, and traceability will create a powerful platform that is unparalleled in the market.
"The synergies between Pivot88 and TradeBeyond are undeniable," said Pivot88 co-founder Stephane Boivin, who will continue in a leadership position at TradeBeyond. "We're excited to join forces with TradeBeyond to offer an even more efficient and cost-effective way for global brands and retailers to improve their product quality, manage their supply chain partners, and reduce supply chain risks."
"Pivot88 has been at the forefront in helping major brands and retailers enhance product quality and traceability. I look forward to having Pivot88's team of experts and innovators join TradeBeyond's growing family to help our customers tackle today's complex supply chain challenges," said Michael Hung, CEO of TradeBeyond. "Pivot88 will further cement our lead in extended supply chain solutions that streamline our customers' supply chain from concept to delivery and beyond."
Since EQT's investment into the company in 2022, TradeBeyond has invested heavily in organic growth, expanding its geographic reach and product offerings, particularly its ESG solutions. As a result, TradeBeyond is on track to double its recurring revenue growth in 2023. The Pivot88 acquisition is a major step in TradeBeyond's M&A strategy to invest in pioneering solutions that will better serve its expanding customer base and capture a larger share of the growing SaaS supply chain market.
This strategic move will not only deepen TradeBeyond's service offerings but also enhance operational efficiency. By pooling resources and expertise with Pivot88, the combined entity will generate economies of scale that will strengthen its competitive standing, allowing both brands to better meet the evolving needs of the global supply chain landscape.
To learn more about how TradeBeyond's modular solutions empower a more efficient, responsible supply chain, visit tradebeyond.com/solutions.
About TradeBeyond
TradeBeyond helps brands, retailers, and suppliers achieve more efficient, responsible, and profitable supply chains. TradeBeyond's powerful CBX platform offers a broad range of SaaS solutions that integrate product development (PLM), sourcing, ordering, quality management and logistics. The CBX platform empowers a global supply chain network of over 50,000 retailers and supplier partners to streamline their efforts from product ideation to production and beyond. For more information, visit tradebeyond.com.
About Pivot88
Powered by AI and available in 11 languages, Pivot88's turnkey SaaS platform offers robust compliance, quality testing, and traceability solutions. In addition to managing quality, lab tracking, and inspections, the platform aggregates data to provide real-time actionable insights, empowering retailers to solve the significant and important challenges retail faces today, including supply chain resilience, transparency, and sustainability. For more information, visit pivot88.com.
SOURCE TradeBeyond
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