Supply chain management software firm Tecsys Inc. has acquired OrderDynamics Corp., a provider of cloud-based order management software, for $13.4 million, saying the firms have complementary technology for meeting omnichannel fulfillment needs in an age of rising retailer and consumer expectations.
The combined software platforms will give third party logistics providers (3PLs) and retailers new pathways to succeed in today's competitive environment, Montreal-based Tecsys saidin a Nov. 14 announcement.
Based in Richmond Hill, Ont., OrderDynamics offers out-of-the-box distributed order management (DOM) software. That solution enables retail merchants and brand managers to optimize their inbound business-to-consumer (B2C) order channels, increasing retail sales, reducing operating costs, and improving shopper satisfaction in the process, according to Tecsys.
Tecsys' 3PL users have often requested that added functionality, since it will allow them to win new retail business by using DOM and dynamic e-fulfillment capabilities to provide the expedited shipments and 100 percent fulfillment rates that consumers increasingly demand, Tecsys said.
"[OrderDynamics] will be a highly valued part of our team with their depth of expertise in the B2C retail domain," Tecsys President and CEO Peter Brereton said in a release. "The powerful combination of our two companies will extend our reach into this fast-moving space and capitalize on our existing footprint in the key markets of North America, Europe, and Australia."