SPS Commerce

The company was founded in 1987; 39 years ago (1987),^[9] under the name St. Paul Software.^[10] In 2000, the company sold its software business to Netherlands-based TIE Commerce.^[11] After the sale, the company primarily offered internet-based business-to-business (B2B) exchanges for retailers and manufacturers.^[12] St. Paul Software was renamed SPS Commerce in May 2001.^[13] SPS Commerce went public in April 2010 when it debuted on the NASDAQ global market.^[14]

Acquisitions:

• 2011: acquired San Diego–based EDI services company Direct EDI for $10.9 million, adding 40 employees in a San Diego office and a development group in Ukraine.^[15]
• 2012: purchased New Jersey–based data analytics firm Edifice for $26M^[16]
• 2014: $14.9M acquisition of LeadTec, an EDI provider headquartered in Melbourne, Australia.^[17]
• 2016: $23M acquisition of ToolBox Solutions ^[18]
• 2018: $23M acquisition of CovalentWorks^[19]
• 2019: $11.5M acquisition of long-term technology partner MAPADOC^{[citation needed]}
• 2020: $100M acquisition of Data Masons^[20]
• 2021: $17M acquisition of Genius Central^{[citation needed][21]}
• 2022: $45M acquisition of GCommerce^{[citation needed][22]}
• 2022: $49M acquisition of InterTrade^[23]
• 2023: €64.5M acquisition of TIE Kinetix^[24]
• 2024: $25M acquisition of Traverse Systems^[25]
• 2024: $206M acquisition of SupplyPike^[26]
• 2025: $210M acquisition of Carbon6^[27]

In December 2025, activist investor Anson Funds Management disclosed a stake in SPS Commerce and pushed the company to explore a sale and consider management changes, arguing the stock price lagged competitors by 40% to 60%.^[28]