Wednesday, January 6th, 2016
The B2B Landscape just got a whole lot STRONGER
PlumRiver LLC Acquires Elastic Suite Inc. – Strengthens Position as Leading B2B eCommerce Solutions Provider
Merged Company Brings Together Unprecedented Level of B2B Capabilities, Domain Expertise and Industry Experience
State College, PA, Jan 7, 2016 - PlumRiver LLC has acquired Elastic Inc. in a cash and stock purchase agreement that brings together the industry’s most experienced B2B ecommerce team and establishes the company as the definitive leader in providing enterprise-level commercial sales planning and management solutions. The combined company represents an unprecedented level of domain expertise and will provide clients with improved sales process efficiency while setting new standards for ease and depth of ERP integration.
“This deal brings together two of the most successful providers of B2B sales enhancement technologies and positions our company for continued strong growth moving forward,” said Whit Johnson, PlumRiver Principal. “Unlike most of our competitors, PlumRiver and Elastic have been operating for many years as profitable, self-funded entities. This speaks directly to the unique nimbleness of our company, its broad platform of B2B software products and confirms that our business is driven not by the desires of venture capital partners or investors, but by the needs of our trusted clients and the demands of the marketplace.”
PlumRiver and Elastic together serve clients representing some of the world’s largest brands in the outdoor, sporting goods, apparel and footwear industries. While PlumRiver has been serving these segments with integrated enterprise-level B2B ecommerce solutions for 12 years, Elastic has gained a reputation over the past five years for its creative and innovative commercial sales management solutions within the outdoor and action apparel sectors.
“Combining the capabilities of PlumRiver and Elastic creates much needed consolidation for our industry and establishes our new company as the clear B2B ecommerce leader,” said Josh Reddin, CEO Elastic. “No other provider comes close to matching our progressive client roster of iconic brands that have adopted disruptive behavioral changes in the realm of print reduction, segmented selling and assortment planning, all while gaining new efficiencies due to successful ERP integration.”
The initial focus of the combined company will be to ensure that shared clients are fully utilizing the capabilities of both the PlumRiver and Elastic platforms. For example, footwear brand leader Timberland is an existing PlumRiver client whereas outdoor apparel pioneer The North Face has been utilizing Elastic’s solutions for years. Now both of these category leaders and many other major clients will have seamless access to all offerings, demonstrating the ability of the company to deliver fully integrated solutions to the world’s most recognizable brands.
“PlumRiver and Elastic together are helping leading manufacturers dramatically improve the way they engage with their wholesale customers and how retailers acquire their products,” added Johnson. “Our clients’ sales teams are now able to showcase multiple product lines with an entirely new level of confidence and expertise while offering buyers a greatly enhanced user experience throughout the sales and ordering process.”
PlumRiver/Elastic B2B ecommerce solutions deliver both efficiency driven cost savings and increased sales growth opportunities to manufacturers. Cost savings come through new efficiencies generated by enhanced CRM capabilities, streamlined order entry, digital catalogs, print reduction, resource optimization, inventory management, online accounting functionality and product sample reduction. Increased sales revenues come through more strategic sales planning, visual merchandising, complex pricing incentive programs, history-driven selling, strengthening brand equity, segmented sales strategies, increased client acquisition/retention and enhanced sales presentations.
Under the agreement PlumRiver will continue operating from the company’s headquarters in State College, Pennsylvania and its Boston offices, and Elastic will maintain operations from its Denver, Colorado base with virtually no change to the company’s current staff and client support structure. Elastic CEO Josh Reddin and COO Mike Mougin have joined Whit Johnson, John Marchione and Beth Keller on the PlumRiver executive management team as company principals.
Selected shared clients of both PlumRiver and Elastic that will now be served by the combined company include: The North Face, Timberland, Puma, TOMS, Oakley, Reebok/CCM, Arcteryx, Bauer, Spyder, Reef, Hurley, Fila, Kuhl, Black Diamond, Majestic, Smith Optics, Lucy, Easton, Lole, Orage, Carter’s, Golfino, Hi-Tec, Bell, OshKosh and CamelBak.
Founded in 2003, PlumRiver LLC is a leading provider of B2B ecommerce software solutions. Easy-to-use Web-based applications are tailored to the needs of manufacturers and wholesalers of footwear, apparel, sporting goods and other segments of the specialty retail market. The company’s solutions quickly bridge the gap between order processing systems, sales reps, independent retailers and consumers, while improving communication, workflow and customer service, enhancing sales, increasing operational efficiency and boosting profitability. Clients benefit from solutions designed to quickly and easily integrate with existing IT infrastructure and ERP systems. For more information, visit www.plumriver.com.
Elastic is a leading provider of B2B sales enhancement technologies and serves category-leading clients from a variety of manufacturing verticals. The Elastic suite of products is designed to easily integrate with ERP and business management solutions providing for new process efficiencies and platform consolidation. Some of the world’s leading manufacturing brands utilize Elastic solutions, including digital catalogs, white boarding, order entry and visual merchandising. For more information, visit www.elasticsuite.com.