Vendio™ Completes Acquisition of Andale®
Positions Vendio as the Definitive Leader in Online Sales and Marketplace Management
SAN MATEO, Calif. November 15, 2006 — Vendio™ Services Inc., a leading provider of services that empower online merchants to reach consumers and manage online transactions, today announced that it has completed its acquisition of the assets of Andale®, Inc. This purchase positions Vendio as the leader in online sales and marketplace management, with over 75,000 active customers selling over $1 billion in annual gross merchandise value through its platform. Details of the agreement were not disclosed.
"This strategic acquisition provides significant economies of scale that will enable Vendio to rapidly enhance its industry leadership position in this attractive and evolving market," said Rick Stubblefield, Founder & Managing Director of Lighthouse Capital Partners. "Additionally, Vendio has acquired a substantial team of top talent that will ensure the quality of our expanded services, bolster the effectiveness of our operations, and accelerate our rate of product evolution."
As pioneers in online sales management and automation, Vendio and Andale offer services that help merchants establish and grow online businesses. The now-combined company will capitalize on its experience and product synergies to create more innovative, powerful tools to further serve its customers evolving needs. Furthermore, the two companies' consumer facing properties, Dealio and Honesty.com will come together not only to drive more buyers to merchants' offerings, but also to provide consumers with access to the hottest deals available. Vendio will also use its increased development capacity to expand product scope and address additional market opportunities.
Rodrigo Sales, CEO of Vendio, said, "This transaction brings together two extremely talented teams with unrivaled industry expertise. We will leverage the combined team along with our many other assets to accelerate product development and develop even better services in less time. Our innovative portfolio of offerings, reputation for outstanding customer service and expanded geographic presence now make Vendio the natural choice for any merchant seeking to grow their business quickly and cost-effectively."
Vendio and Andale customers should expect no service changes in the foreseeable future, particularly during the busiest selling season of the year. Behind the scenes, however, the Andale and Vendio teams are already working together on team, process, and product integration initiatives to provide customers with the most feature rich and reliable suite of services available.
"The Andale team is eager to contribute our expertise in listing management and research services to the success of Vendio," said Ravi Garikipati, former CEO of Andale, Inc., and now Vendio's Senior Vice President, Managing Director India Operations. "Bringing our two accomplished companies together enables us to continue serving our customer base while expanding into new areas that capitalize on our combined strengths."
About VendioVendio is a leader in eCommerce, providing hosted software-as-a-service (SAAS) solutions for merchants. Vendio's consumer offering, Dealio, is one of the top Web 2.0 shopping sites providing coupons, comparison shopping, and user generated deals. Dealio is a direct descendant of Auctionwatch, Vendio’s pioneering comparison shopping search engine for auctions created in 1998. Today Dealio provides some of the best bargains and product depth of any shopping site by leveraging the thousands of stores hosted by Vendio.
Vendio was founded in January, 1999 and is the independent leader in multi-channel online sales. Each year, tens of thousands of merchants use Vendio's sales management and merchandising services to sell over $1.6 billion of merchandise on both their own branded stores as well as the Web's leading marketplaces such as eBay. Vendio is a profitable Silicon Valley startup which acquired the assets of long time competitor Andale in 2006. The company is headquartered in San Mateo, CA with offices in Bucharest, Romania and Bangalore, India. Vendio is backed by Lighthouse Capital Partners and MVC Capital.
Vendio and Dealio are trademarks of Vendio Services, Inc. All other trademarks and registered trademarks are the property of their respective owners, without intent to infringe.< Back to Press Releases