Combined Solution Portfolio Will Offer More Comprehensive Options to Deliver a Complete Customer Experience
CHICAGO, Illinois — May 27, 2021 — Syndigo, a Chicago-based leading SaaS product information and syndication company, and a portfolio company of Summit Partners and The Jordan Company, today announced the acquisition of Riversand, a leading cloud-native SaaS Master Data Management (MDM) and Product Information Management (PIM) solution provider. Terms of the deal were not disclosed.
The acquisition expands Syndigo’s position as a global provider of end-to-end solutions for product information, adding enhanced PIM capabilities plus flexible MDM across multiple domains and systems. The acquisition also allows Syndigo to bring its custom syndication and analytics capabilities to Riversand’s client base, offering a seamless transfer of information across the product ecosystem.
“This partnership will open countless opportunities for our clients around the world,” said Syndigo CEO Paul Salay. “Combining Riversand’s expertise in MDM and PIM with Syndigo’s leading capabilities in enhanced content, syndication and data analytics means more data – better data – for all of our clients.”
“Both organizations strongly believe that for our nearly 14,000 clients to succeed, we must deliver product information solutions that are built to serve brands, retailers and distributors alike,” continued Salay. “Our connectivity and added capabilities between the two solutions will continue to help maximize the speed to market for our clients. We look forward to growing globally together.”
“As we carefully considered how to help our clients accelerate their growth, we determined that Syndigo was an ideal fit for clients to enhance their entire product information supply chain,” said Riversand Co-Founder and CEO Upen Varanasi. “Our clients, employees, and partners make up a team that delivers a wealth and breadth of functionality unmatched in the industry. Together with Syndigo, we will continue to further improve upon the data that flows throughout their various domains and systems.”
“As we considered the many potential homes for what we have built at Riversand, we immediately determined that Syndigo was an ideal fit for our clients and employees to continue to grow and flourish,” said Riversand Co-Founder and CEO Upen Varanasi. “Not only is Syndigo known for its unique syndication solutions and footprint in the global commerce system, they also share our vision of investment in cloud-native technology that enable flexible product data strategies, bringing retailers and brands together in a two-sided network model.
Recognized as a Leader in the Gartner January 2021 Magic Quadrant for Master Data Management Solutions, Riversand has built a strong partner and alliance network that further complements their technological capabilities and broadens their global reach. The complementary fit of Riversand’s rich offerings with Syndigo will empower clients to deliver more engaging global customer experiences by optimizing product and master data management strategies through an end-to-end solution.
Learn more about the announcement here: https://syndigo.com/riversand/
Syndigo enables commerce by supporting the efficient transfer of product information through its network of brands and their customers. The company provides descriptive product and nutritional information, images and other digital media, powered by deep analytics to empower engaging brand experiences online and in store. Through Syndigo’s integrated platform, Content Experience Hub, clients can publish, manage, syndicate and audit product content across the largest trading network of brands and recipients in the world.
Syndigo serves more than 12,000 manufacturers and 1,750 retailers and distributors globally in many important consumer industries including grocery, foodservice, hardlines, home improvement/DIY, pet, health and beauty, automotive, apparel, and healthcare products.
Riversand provides a Master Data Experience Platform (MDxP), enabling customers to leverage their data through intelligent insights, automation, and multi-domain SaaS solutions. Riversand’s MDxP platform is the engine that powers customers’ digital transformation journeys through improved business agility, faster adoption and improved collaboration across the enterprise. Driving data to experiences and insights, Riversand has a vision of helping companies know their customers better, move products faster, automate processes, mitigate risk and run their businesses smarter. Visit https://www.riversand.com/ for more information and follow @RiversandMDM on Twitter and Riversand on LinkedIn.
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $23 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries. These companies have completed more than 160 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. Summit has partnered with more than two dozen companies across the e-commerce and consumer landscape, including Brooklinen, Klaviyo, Solo Stove, Philz Coffee, Quay Eyewear, Reverb.com, Sezane, TinyPrints, VeriShip, MercuryGate, and vente-privee.com. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utilities. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
Patrick Niersbach, Senior Vice President, Marketing