Episerver of New Hampshire said it has acquired Minneapolis-based Insite Software for an unspecified amount in a private transaction.
Insite Software of Minneapolis sold to Episerver
Episerver of New Hampshire said it has acquired Minneapolis-based Insite Software for an unspecified amount in a private transaction.
December 16, 2019 at 6:26PM
Episerver also this month hired SAP software veteran Alex Atzberger as CEO, and bought another software firm.
"These additions to the lineup strengthen Episerver's already strong position for 2020 and beyond," Episerver Chairman Adam Berger, also managing partner in lead-investor Insight Partners, said in a prepared statement. "We saw a big opportunity to deliver greater value to the underserved trillion-dollar [business-to-business] commerce market, which is set to surpass [online business-to-consumer] sales by two-fold next year."
Insite Software, a provider of 'B2B' commerce platforms for manufacturers and distributors, received an equity investment of $15 million from Volition Capital of Boston in 2015 and employs about 100 people. The company declined to specify its revenue.
"Since the founding of Insite Software in 2004, our mission has been to help manufacturers and distributors transform their businesses for the future," said Insite CEO Steve Shaffer. "Combining Insite's best-in-class commerce capabilities with Episerver's leading customer-centric, digital-experience platform creates a complete B2B solution. Joining Episerver will help us expand the scope of our mission by offering a richer suite of products in a rapidly maturing market."
Insite has been recognized by Forrester and other analysts as a leader in B2B "commerce suites."
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