Accel-KKR’s TrueCommerce acquires SaaS provider Datalliance
TrueCommerce Inc. has agreed to purchase Datalliance, a cloud-based technology provider for the inventory management subsector. Financial terms of the deal were not disclosed.
Datalliance provides software-as-a-service (SaaS) vendor managed inventory (VMI) technology to suppliers and their customers, which include distributors, retailers, OEMs, and product-end users across a variety of industries. The Cincinnati, Ohio-based company also offers special pricing reconciliation and a third-party service that helps to streamlines the process of managing special pricing agreements between suppliers and distributors. Datalliance was founded in 1991 and previously operated under the name Enterprise Data Management Inc.
"With our strategic direction to expand our commerce network offerings to adjacent, yet related solutions, we recognize the importance of vendor managed inventory as a tool to optimize order processing and collaboration between suppliers and their partners," states TrueCommerce CEO Mike Cornell.
The acquisition of Datalliance follows TrueCommerce’s recent deal to sell sister company HighJump Software to Korber AG. “The sale of HighJump allows TrueCommerce to continue to invest aggressively to grow and expand its global commerce network, as exemplified by the acquisition of Datalliance,” Cornell noted. Since 1995, TrueCommerce has provided electronic data interchange tools for a variety of small and mid-sized businesses. The Cranberry Township, Pennsylvania-based company is backed by Accel-KKR.
Accel-KKR is a technology-focused private equity firm with U.S. offices in Menlo Park, California and Atlanta. Accel-KKR has been active recently. In May, Accel-KKL received a minority equity investment from Goldman Sachs Asset Management (NYSE: GS). The firm sold its software company Abila in April and also began raising capital for its Accel-KKR Credit Partners LP Series 1 in December 2016. In 2016, Accel-KKR acquired the Smart Communications division from Thunderhead and invested in cloud software company IntegriChain in March. The firm also closed its fifth buyout fund valued at $1.3 billion amid high interest in the software industry.