Vendavo, a leading provider of intelligent pricing and margin optimization solutions, has announced its planned acquisition of Endeavor Commerce, a SaaS-based Configure Price Quote (CPQ) solution provider.
Francisco Partners-backed Vendavo will integrate Dallas-based Endeavor Commerce’s traditional CPQ efforts with its intelligence pricing for improved B2B sales conversion rates and profitability.
"We believe the integration of advanced pricing science with CPQ will be a game changer for the B2B enterprise," said Bruno Slosse, President and CEO at Vendavo. "Every dollar counts in today's increasingly competitive landscape and end-to-end margin optimization can make or break the bottom line."
Citing research from Gartner, Vendavo suggests that the CPG application suites market has benefited from sustained, double-digit growth over the past five years, from an approximate $570 million in 2015. The research firm expects the market to continue to boom at a 20% annual rate through 2020.
“The innovative possibilities around intelligent price science and our big data analytical capabilities with a SaaS-based, feature-rich CPQ solution are virtually endless,” said Slosse, noting that by 2018, 40% of all B2B digital commerce sites are expected to use price optimization algorithms and configure, price and quote tools to calculate and deliver product pricing.
Global private equity firm Francisco Partners funded the deal which closed on July 3rd, 2017, in which terms were not disclosed.