18 October 2017
Register now

GT Nexus and TradeCard agree merger

07 January 2013  |  4082 views  |  0 strategy

GT Nexus and TradeCard have agreed a merger deal, creating the world's biggest cloud-based business network for trade and supply chain management. Financial terms were not disclosed.

The merger brings together GT Nexus's cloud-based logistics and global transportation control offering with TradeCard's financial supply chain and production visibility expertise.

The combined entity will cover a global network of over 20,000 businesses spanning every major industry, from retail to high-tech, commodities, finance and logistics, and manage over $100 billion in direct supply chain trade.

Sean Feeney, CEO, TradeCard, says: "The strengths of each company are highly complementary and will offer customers a complete solution, covering the entire supply chain execution lifecycle, from sourcing of goods to final delivery and payment."

Feeney will be CEO of the new Oakland, California-headquartered firm, with GT Nexus chief executive Aaron Sasson as chairman and TradeCard founder Kurt Cavano as vice chairman.

The deal is slated to close early this year, subject to customary closing conditions and clearance from antitrust regulatory authorities.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

TradeCard scoops $10 million funding; appoints new head of sales

TradeCard scoops $10 million funding; appoints new head of sales

12 November 2002  |  3405 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comRegister now

Who is commenting on transaction banking?

Top transaction banking topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15406 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8613 views comments | 16 tweets | 22 linkedin
Can regtech and CLM save the customer experience? - new Finextra reportCan regtech and CLM save the customer expe...
5808 views comments | 7 tweets | 9 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
5156 views comments | 13 tweets | 23 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job