Nothing to do with CRO, but could be the beginning of a trend. Something to look forward to further down the track as other equity funds decide they need to buy into the B2B eCommerce space...PE player Potentia snaps up SaaS-y Commerce Vision
Potentia Capital has agreed a deal to take a controlling stake in Brisbane-based eCommerce platform group Commerce Vision.
The technology sector private equity firm is expected to cut a cheque from its $400 million technology sector private equity fund, Potentia Fund 1, and acquire a majority stake alongside Commerce Vision’s existing management team.
Commerce Vision was set up in Queensland 20 years ago to target business-to-business eCommerce platforms.
The group now has more than 100 Australian clients using its SaaS platforms, including retailers like OffficeMax, Henry Schein, Kincrome and House, and handles about $2 billion a year through its applications. Its products include B2B eCommerce platforms, mobile sales and automated order processing.
Potentia’s investment is expected to be used to to try to accelerate Commerce Vision’s growth, including furthering product development for the Australian and offshore markets.
https://[email protected]/street-talk/pe-player-potentia-snaps-up-saas-y-commerce-vision-20210216-p572tt
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