July 17, 2014
(Editor’s Note: This post is an excerpt from an article appearing in Practitioner Insights on WestlawNext)
The acquisition of cloud-based companies was one of the biggest trends of 2013, and has continued unabated into 2014. A recent acquisition between two cloud-based companies, Venda by NetSuite Inc., illustrates the dominant role cloud-based systems are playing in business, suggesting that this trend will continue.
NetSuite Inc., which provides cloud-based financials, enterprise resource planning and omnichannel commerce software, will acquire Venda, a privately held provider of cloud-based commerce solutions. The parties identified Venda as “one of the world’s leading pioneers in and providers of cloud-based digital commerce solutions” and believe that this acquisition will “enable retailers to finally deliver a seamless, omnichannel commerce experience in the cloud.”
Core business systems to the cloud
In their press release announcing the deal, NetSuite and Venda touted the role that cloud computing has on business operations, noting that more companies are moving their business systems to the cloud. As such, the demand for efficient and expansive cloud-based systems is greater than ever.