iTradeNetwork Acquires FoodLink
PLEASANTON, CA - FoodLink and iTradeNetwork are coming together as a single company. iTradeNetwork’s parent company Roper Industries has purchased FoodLink Holdings, which will be merged and branded as iTradeNetwork. The effective date for the acquisition is July 1, 2014.
iTradeNetwork will be working over the next several months to fully integrate its teams and operations, according to the company. In the meantime, iTradeNetwork assures that there will be no disruption to current service levels and it will be working diligently to ensure service remains consistent and reliable throughout the merging process. The current FoodLink offices in Los Gatos and Pune will remain open.
Both FoodLink and iTradeNetwork ensure that current contract terms and pricing will remain in place as the two companies develop a single, rationalized pricing model. Current Service Level Agreements will also remain in place, and customers are advised to continue using their established avenues for obtaining Technical Support or other assistance.
iTradeNetwork is a leading software-as-a-service (SaaS) solution provider to the global food and beverage supply chain that will bring FoodLink’s strengths in warehouse management, food safety and traceability solutions into its fold. Combining the resources of the companies will allow iTradeNetwork to better serve the broader needs of the combined customer base while further enhancing its efforts to increase customer value and efficiencies. The merger will create the industry’s largest end-to-end supply chain data, commerce, and traceability company, according to Julie Petersen, Strategic Projects at iTrade Network/Roper Industries.
“The combined business will provide unmatched value to every participant in the food supply chain and move ITN closer to our vision of creating a fully transparent and frictionless supply chain from farm to fork,” said Joe Bergara, Group Vice President of Roper Industries and President of iTradeNetwork.
Some key facts of the combined organization include:
- 10,000 customers
- The world’s largest transacting and collaboration network of food and beverage suppliers
- $300 billion in annual trade volume
- 600 million purchase orders per year
- Labeling and tracking greater than 10% of all shipped cases of fresh produce in the U.S.
- More than 100 million produce items per year feature FoodLink QR codes and item-specific consumer-labels in stores
- More than 10 million prepared meals daily
Congratulations to iTradeNetwork and FoodLink as you move forward in the fresh food industry.