Move to Hopyard Road Facility Provides an Additional 4,000 Square Feet of Space for Growing Company
Hacienda's iTtradeNetwork (ITN) gained over 4,000 square feet when it relocated its headquarters from two levels of a building on West Las Positas Boulevard into the sprawling ground floor of 4155 Hopyard Road over a weekend at the end of January.
The larger space reflects the growth of the 12-year-old company, which had about 70 employees when it first moved into the park in 2007. Its current roster includes about 350 people worldwide, with 100 based in Pleasanton. It has since added facilities in Boise, Idaho, and the United Kingdom to accommodate international expansion.
As the leading global provider of on-demand supply chain management and intelligence solutions to the food industry, ITN presents a very attractive value proposition. Its collaborative solutions-built on the combination of in-depth industry expertise, a comprehensive data foundation, and a vast trading partner network-allow distributors, manufacturers, operators, and retailers of all sizes to reduce supply chain costs, increase revenue, improve compliance, and strengthen trading partner relationships.
Many of the economic advantages accrue through its embrace of the Software as a Service (Saas) model. "We have over $100 million invested in this technology," says CEO Rob Bonavito, one of ITN's original founders. "Our solutions work across the board, for large grocery chains like Kroger right down to the blueberry farmer who ships product just six weeks a year. It gives the smaller guys a major leg up competing with larger enterprises. They can get the ASP [application service provider] model for pennies on the dollar, on a pay-as-you-go basis. They don't have to make the huge capital investment in state-of-the-art technology that only larger companies have the ability to afford."
ITN has an impressive collection of statistics that testify to the greater operational efficiency and improved financial performance its solutions deliver. The company has built the largest worldwide trading partner network with over 5,500 customers, including eight of the top 20 restaurant chains, four of the top six foodservice management companies, 75 of the top 100 manufacturers, 50 of the top 50 distributors, and 16 of the top 20 food retailers/wholesalers. Its robust and secure transaction engine processes more than $220 billion annually in supply chain commerce.
This success is undoubtedly the reason why, in late July 2010, Sarasota, Fl.-based Roper Industries bought the company in a $525 million all-cash transaction. "iTradeNetwork operates a unique platform that generates significant cash flow and has low working capital requirements. Because of the considerable value the company creates for its participants, 97 percent of revenue is recurring in nature with long-term, subscription-based contracts that historically have had a 99 percent renewal rate," Roper commented in announcing the purchase.
The acquisition "lifts the bar and gives us more resources, both domestic and international," observes Bonavito. "We have made a solid commitment to expand and grow, and we are optimistic about opportunities for our technology to be further accepted due to cost advantages. In tough markets, good products rise to the top."
For more information, visit www.itradenetwork.com .
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