In surely one of the first mergers of the year, GT Nexus and TradeCard are announcing their intent to merge their companies. GT Nexus provides a cloud-based global trade and logistics platform for manufacturers, retailers, and logistics service providers. TradeCard provides a cloud platform for managing sourcing, logistics, and finance on a single system.
TradeCard, founded in 1999, by Kurt Cavano, likes to boast of its 10,000 organizations and 45,000 users in 78 countries. TradeCard has earned its reputation as a leading financial supply chain solution, enabling companies to automate various sourcing processes, gain better visibility into their global trade supply chain, and leverage alternative trade financing tools.
GT Nexus started out as an ocean freight marketplace, automating and streamlining the freight logistics processes and associated documentation. As GT Nexus has matured, their solutions have extended to include air and truck, as well as a broader set of supply chain visibility capabilities. GT Nexus’ business model is based on a mix of buy-side subscription and sell-side transaction revenues.
Approaching the global trade management area from two completely different perspectives has led GT Nexus and TradeCard to a point where they see complementary opportunities to offer more of an end-to-end global trade and logistics capability. (It doesn’t hurt, either, that the combined entity can boast that they will manage “over $100 billion in direct supply chain trade” to more than 20,000 organizations, and counting. Marketplaces thrive on continually increasing scale.)
The proof is, as always, in the execution. This should make for an interesting GT Nexus Bridges 2013 event, if you can score an invitation to this June 2–4, 2013 event.
What do you think about this merger? What are your global trade management plans and initiatives for 2013, and how does this merger change your plans? Let’s talk.