PlumRiver Technologies on Wednesday announced that the company has signed an agreement to acquire CenterStone Technologies as part of a strategic move to create a standardized B2B e-commerce interface between manufacturers and retailers. Financial terms of the deal weren’t disclosed.
“Retailers are asking manufacturers for a more seamless, efficient and user-friendly product procurement process creating the need for a more uniform B2B e-commerce and merchandising solution,” said Whit Johnson, PlumRiver principal. “Buyer-mandated standardization, developed to meet the needs of retailer procurement managers, is now happening by bringing the best of CenterStone together with PlumRiver and our innovative Elastic platform.”
While the financial terms of the acquisition are not being disclosed, PlumRiver plans to retain nearly all CenterStone personnel including the company’s global technology support team which will be merged with the PlumRiver and Elastic platform client service function. PlumRiver will continue to support the CenterStone iVendix platform while customers evaluate the optimum timing to upgrade to Elastic based on their business needs and the preferences of their retail partners.
“Joining forces with PlumRiver and their Elastic platform is a very positive development for CenterStone and our clients as together we accelerate the delivery of a new standard for B2B e-commerce,” said Tom Detmer, CenterStone CEO. “Offering Elastic to our entire manufacturing client base, and providing associated retailers with their preferred product procurement solution, will result in stronger and more profitable e-commerce relationships between buyers and suppliers.”
Through platform standardization, the application of the most innovative features and capabilities and a much more strategic B2B sales approach, Elastic helps both manufacturers and retailers achieve efficiency-driven cost savings and incremental sales growth. Cost savings come through streamlined order entry, print reduction, resource optimization, inventory management, online payment functionality and product sample reduction. Increased sales revenues come through brand-specific retailer/dealer applications, strategic sales planning, digital merchandising, product customization, managing complex pricing incentive programs, assortment planning tools, history-driven selling, strengthening brand equity, segmented sales capability, increased client acquisition/retention and enhanced product presentations.
“Elastic is truly revolutionizing how manufacturers merchandise and bring their products to market in a way that has transformed the procurement process for retailers,” said Josh Reddin, PlumRiver principal and Elastic founder. “The streamlined and standardized B2B e-commerce solution that retailers have been demanding from manufacturers is now here and it’s in the Elastic platform.”
PlumRiver’s B2B platforms and CenterStone’s iVendix platform together serve clients representing some of the world’s largest and most iconic brands in the outdoor, sporting goods, apparel and footwear industries. Selected clients include: The North Face, Patagonia, Timberland, Volcom, Gordini, Pearl iZUMi, Rawlings, TYR, Fja?llra?ven, New Balance, 2XU, Boardriders, Crocs, Puma, Oakley, Reebok/CCM, Haggar, Bauer Hockey, Easton, Spyder, Burton, Reef, Hurley, Icebreaker, Fila, Kuhl, Nidecker, Black Diamond, Majestic, Osprey, Smith Optics, Bushnell, Lowe Alpine, Rab, Carhartt, Dickies, Helly Hansen, Ariat, Marmot,Simms Fishing, Lole, Carter’s, Smartwool, Speedo, Golfino, Hi-Tec, Bell, OshKosh, Vans and CamelBak.
