US software business NetSuite has today (Thursday) announced the acquisition of London-based tech firm Venda.
More details of the financial aspects of the deal will be discussed in NetSuite's second-quarter sales update, next week, but the company has said that the takeover will help increase its presence in Europe as it continues to expand its global presence.
Venda works with the likes of Tesco F&F Clothing, Boohoo.com, Laura Ashley and Arsenal Football Club, and the combination of its cloud-based platform with NetSuite's array of digital solutions is expected to aid its business customers' omnichannel strategies.
Zach Nelson, NetSuite CEO, said: "Venda pioneered the concept of bringing commerce to the cloud and their expertise in supporting the needs of companies throughout Europe is a perfect match for NetSuite as our customers begin to adopt our SuiteCommerce omnichannel platform around the globe."
Eric Abensur, CEO of Venda, added: "Venda has incredible technology, employees and customers. Combining those attributes with NetSuite's scale and leadership in cloud ERP and CRM technology, we are well positioned to meet the needs of our customers and execute on our vision of global commerce."
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