Quantum Retail Technology, Inc. Announces Acquisition of Symphony Commerce
Acquisition expands Symphony Commerce vision to help brands gain access to best-in-class ecommerce platform and achieve increased Customer Success
AUSTIN, Texas, May 17, 2018 /PRNewswire/ -- Quantum Retail Technology, Inc. announced today the acquisition of San Francisco-based, leading Commerce-as-a-Service provider, Symphony Commerce, Inc.
Quantum Retail is an affiliate of Versata, which is part of the ESW Capital group of companies, one of the largest privately held enterprise software companies in the world. ESW Capital's strategy is to acquire best-of-breed software solutions, which possess the potential for further growth through increased investment and an obsessive focus on Customer Success.
Symphony Commerce is the leading provider of Commerce as a Service and was created by the visionary and technical team behind Amazon's ordering and fulfillment systems.
Trusted by enterprise and mid-size brands in the fashion and apparel, durables and consumer packaged goods segments, its cloud platform orchestrates commerce across multi-channel storefronts, orders, inventory and fulfillment. With Symphony Commerce, brands are free from the burden of infrastructure management and gain the data and services needed to operate and grow their business.
"I am excited about the opportunity to integrate Symphony's commerce platform with Quantum Retail's supply chain and inventory optimization. Our brands will benefit from the end-to-end intelligent commerce," said Ken Fine, Symphony Commerce CEO.
Leela Kaza, CEO of Quantum Retail and longtime veteran of Versata and its parent company, ESW Capital, will assume the role of CEO for Symphony Commerce. "I am pleased to welcome the Symphony Commerce brand into the Versata family and broader ESW Capital group of companies. We are confident that the addition of Quantum's advanced retail science to the Symphony Platform will offer our customers unprecedented value and competitive advantage," said Kaza.
About Quantum Retail Technology, Inc.:
Quantum Retail Technology is the industry's leading innovator of retail-focused supply chain management and inventory optimization solutions. Our retail platform software is designed to increase retailer's profitability in an increasingly dynamic marketplace. Quantum clients include many of the world's top retailers. For more information, visit www.quantumretail.com.
About Versata:
With a global presence covering 45 countries, Versata solves complex business problems for the world's largest organizations. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Our market-leading Customer Success program ensures customer involvement in product decisions and business priorities and provides opportunities for customers to score Versata's performance against commitments. Versata's world-class engineering capability ensures substantive and valuable product releases, continuous innovation and repeatable value propositions. For more information, visit www.versata.com.
About ESW Capital, LLC:
Based in Austin, Texas, Enterprise Software (ESW) Capital has honed a finely-tuned methodology focused on buying, strengthening and growing mature business software companies. By taking advantage of its unique operating and development platforms, ESW revitalizes its acquisitions for sustainable success while making customer satisfaction a top priority. ESW and its affiliated companies have been in the enterprise software space since 1988, and the group includes notable brands such as Aurea, Trilogy, Versata and Ignite Technologies. For more information, visit www.eswcapital.com.
SOURCE Quantum Retail Technology, Inc.
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