PlumRiver to Acquire CenterStone in Move to Standardize B2B eCommerce

Company's Elastic Suite Technology Emerging as Retailer-Preferred Solution

DENVER, Nov. 7, 2018 /PRNewswire/ -- PlumRiver Technologies announced today that the company has signed an agreement to acquire CenterStone Technologies as part of a strategic move to create a standardized B2B ecommerce interface between manufacturers and retailers. The acquisition will bring together the industry's most experienced technology providers behind PlumRiver's Elastic Suite B2B digital merchandising and ecommerce platform, which is quickly becoming the preferred wholesale procurement solution among retailers.

"Retailers are asking manufacturers for a more seamless, efficient and user-friendly product procurement process creating the need for a more uniform B2B ecommerce and merchandising solution," said Whit Johnson, PlumRiver Principal. "Buyer-mandated standardization, developed to meet the needs of retailer procurement managers, is now happening by bringing the best of CenterStone together with PlumRiver and our innovative Elastic platform."

While the financial terms of the acquisition are not being disclosed, PlumRiver plans to retain nearly all CenterStone personnel including the company's global technology support team which will be merged with the PlumRiver and Elastic platform client service function. PlumRiver will continue to support the CenterStone iVendix platform while customers evaluate the optimum timing to upgrade to Elastic based on their business needs and the preferences of their retail partners.

"Joining forces with PlumRiver and their Elastic platform is a very positive development for CenterStone and our clients as together we accelerate the delivery of a new standard for B2B ecommerce," said Tom Detmer, CenterStone CEO. "Offering Elastic to our entire manufacturing client base, and providing associated retailers with their preferred product procurement solution, will result in stronger and more profitable ecommerce relationships between buyers and suppliers."

Through platform standardization, the most innovative features and a much more strategic B2B sales approach, Elastic helps both manufacturers and retailers achieve efficiency-driven cost savings and incremental sales growth.

"Elastic is truly revolutionizing how manufacturers merchandise and bring their products to market in a way that has transformed the procurement process for retailers," said Josh Reddin, PlumRiver Principal and Elastic Founder. "The streamlined and standardized B2B ecommerce solution that retailers have been demanding from manufacturers is now here and it's in the Elastic platform."

More information on the acquisition, Elastic and major brands served at:

www.elasticsuite.com

https://elasticsuite.com/news/show/plumriver-to-acquire-centerstone-in-move-to-standardize-b2b

https://vimeo.com/268686437

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