Supply chain solutions providers GT Nexus and TradeCard have agreed to merge.

The new company will be the world’s biggest cloud-based network for trade and supply chain management utility, with a network of 20,000 businesses around the world, managing more than US$100bn of direct supply chain trade.

The financial details of the merger have not been confirmed.

Greg Kefer, GT Nexus’s marketing director, assures GTR that the merger will be a positive move for clients of both businesses. He says: “Together, we will double in size and instantly have access to new resources and opportunities to grow into new verticals. The deal combines the global leaders in sourcing, logistics and trade finance onto a single platform.

“Customers have the ability to manage their end-to-end supply chain via a single control tower, in the cloud, within a multi-tenant architecture. The combined resources of the two companies will provide more R&D firepower, which will help ensure we stay at the forefront of cloud supply chain technology innovation. Customers will have access to a pool of resources that is twice the size it was before.”

Kefer also moved to allay fears that the merger will lead to disruption for clients of either business, saying the “transition plan will ensure clients are not impacted in a negative way”.

Sean Feeney, CEO of TradeCard, will be the CEO of the new organisation, based in Oakland, California. He 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.”
The merger is expected to be completed early this year.