SAP to acquire SeeWhy
Walldorf, Germany — SAP AG plans to acquire SeeWhy, a Boston-based provider of cloud-based behavioral target marketing solutions. SAP intends the addition of SeeWhy to complement its Hybris commerce platform with one-to-one personalized marketing based on real-time customer behavior that converts customer interactions into sales.
SeeWhy’s behavioral marketing solutions use real-time, in-memory processing to trigger real-time one-to-one marketing campaigns using email and advertising across desktop, mobile and social channels, based on individual customer behaviors.
“SeeWhy’s solutions for automating personalized campaigns in real time are a natural fit with hybris and SAP and promise even higher returns for our customers’ investments in the Hybris omni-commerce platform,” said Ariel Lüdi, CEO of Hybris, and Carsten Thoma, president and co-founder of Hybris. “This acquisition provides a fast-growing cloud business that will enable the next-generation platform for engaging customers and digital commerce.”
The transaction is subject to regulatory and other closing conditions. SAP expects to complete the transaction in the second quarter of 2014.
Stitch Labs updates inventory management platform
San Francisco — Stitch Labs has launched a new user interface for its inventory management platform. Designed to meet the unique needs of retailers, the interface incorporates new visual and interactive experiences.
New features include a single interface page, faster syncs, customized URLs for reporting and data sharing, and increased scalability. The Stitch platform integrates with sales channels such as Amazon, eBay, Shopify and Square. Stitch’s new user interface is available immediately and the company offers a free trial for new customers.
“This next iteration of Stitch isn’t delivered with just weeks or months of work, but years of preparation and learning from our customers,” said Brandon Levey, CEO and founder of Stitch Labs. “We’ve seen how much other systems have matured in what they offer sellers, and this was the perfect time to create a platform that centralizes those systems.”
Greg Penner named Walmart vice chair
Wal-Mart Stores chairman Rob Walton, 69, announced the appointment of Greg Penner, 44, as vice chairman at the company’s shareholders’ meeting Friday morning, a move that positions Penner, Walton ‘s son-in-law, as his successor.
“One of the board’s most important responsibilities is long-term succession planning, and the company spends considerable time planning for stability and continuity, both at the board and management level,” said Walton, who will remain chairman of the board of directors. “In keeping with this commitment, I’m pleased with Greg’s appointment. Walmart has benefited from his broad expertise in strategic planning, finance and investment matters. I’m excited about Greg working closely with me, the Board and the management team in guiding Walmart into the future.”
Penner has served on Walmart’s board since 2008. He is chair of the Technology and eCommerce Committee and also serves on the Global Compensation and Strategic Planning and Finance Committees.
“I am committed to the long-term success of Walmart,” said Penner. “My first Walmart experience was in 1994 and over the years I’ve developed a deep appreciation for our associates and their service to our customers. I look forward to contributing to a stronger Walmart in any way possible including how we develop new digital capabilities to add to our store offering. This is an exciting time to be part of Walmart.”
Penner has been a general partner of investment management firm Madrone Capital Partners since 2005. From 2002 to 2005, he served as Walmart’s SVP and CFO, Japan. Prior to that role, he was SVP of finance and strategy for Walmart.com. Before joining Walmart, Penner was a general partner at Peninsula Capital, an early stage venture capital fund, and a financial analyst for Goldman Sachs & Co.