Extends PlumRiver’s Elastic Suite B2B platform
to thousands of Emerald customer brands
Emerald Holding, Inc. (NYSE:EEX) (“Emerald” or the “Company”)
today announced that it has completed the acquisition of PlumRiver
LLC (“PlumRiver”), a leading international provider of
software-as-a-service technology through its Elastic Suite
solution. Elastic Suite’s platform streamlines the wholesale buying
process for both brands and retail buyers, creating a digital
year-round transactional platform for use by Emerald’s
customers.
The acquisition will accelerate Emerald’s strategy to provide
365-day-per-year engagement for its customer base regardless of
location by significantly expanding its digital commerce
capabilities and providing its customers with robust transactional
functionality, including deep enterprise-level integration to
brands’ ERP systems, allowing customers to manage orders, real-time
inventory, and product merchandising. PlumRiver, which was founded
in 2002, is integrated with preeminent manufacturers and retailers
across numerous industries, most notably in the outdoor, surf,
cycling, footwear and sporting goods verticals, and will complement
Emerald’s portfolio of leading show brands including Outdoor
Retailer and Surf Expo, among others.
PlumRiver’s Elastic B2B platform bridges the gap between
sellers’ order processing systems and allows brands to sell
directly to their buyers using print-free digital product catalogs
and merchandising technology. This enables clients to increase
their efficiency, effectiveness, sustainability and profitability.
Key client brands include: Patagonia, The North Face, Burton,
Shimano, Scott Sports, Rip Curl, Boardriders, Volcom, Timberland,
New Balance, Vans, Orvis and Puma.
Brian Field, Emerald’s Chief Operating Officer, said, “Over the
course of 2020, we launched many digital product offerings focused
on customer engagement, new customer acquisition, and delivering
high-value customer solutions. From our customers’ feedback, the
highest-value of these needs is clearly centered on the transaction
between buyer and seller. Through our acquisition of PlumRiver and
the Elastic platform, we now have the capability to offer a full
spectrum of bundled solutions to our customers—from product
discovery, lead-generation, to transaction—across both in-person,
face-to-face events as well as year-round, digital
opportunities.”
Hervé Sedky, Emerald’s President and Chief Executive Officer,
added, “The acquisition of PlumRiver is a natural extension of our
live events business; we can now offer a complementary, year-round
interaction and transaction platform. PlumRiver’s technology is
already used by world-class clients and will foster increased
engagement between Emerald and our customers. Importantly, the
Elastic B2B eCommerce SaaS solution is expected to strengthen our
existing live events, expanding both their relevance and growth
profile, while also bringing an additive subscription-based revenue
stream to Emerald.”
Josh Reddin, Chief Executive Officer of PlumRiver, stated,
“Elastic has clearly emerged as the preferred wholesale purchasing
and digital merchandising solution among both brands and retailers.
Looking forward, I couldn’t be more encouraged by the opportunity
to establish Elastic as the standard B2B ecommerce solution across
even more verticals as we expand our business through our
combination with Emerald. Their portfolio of industry-leading
events provides significant growth opportunities for our
solutions.” Added John Marchione, Co-Founder of PlumRiver, “We are
thrilled to join Emerald to bring our innovative, market-driven
solutions and efficiencies to thousands of brands and retailers
across the globe in a rapidly expanding B2B digital economy. We are
equally excited for the many new opportunities for our team
members.”
About Emerald
Emerald is a leader in building dynamic, market-driven
business-to-business platforms that integrate live events with a
broad array of industry insights, digital tools, and data-focused
solutions to create uniquely rich experiences. As true partners, we
at Emerald strive to build our customers’ businesses by creating
opportunities that inspire, amaze, and deliver breakthrough
results. With over 140 events each year, our teams are creators and
connectors who are thoroughly immersed in the industries we serve
and committed to supporting the communities in which we
operate.
About PlumRiver
PlumRiver is a leading provider of globally adopted B2B
ecommerce and digital merchandising solutions, serving the unique
business needs of world-class manufacturers and retailers.
PlumRiver’s easy-to-use web-based applications are tailored to the
needs of manufacturers and wholesalers of outdoor, surf, footwear,
apparel, cycling, sporting goods and other segments of the
specialty retail market. PlumRiver’s solutions quickly bridge the
gap between order processing systems, sales reps, independent
retailers and consumers. The Elastic solution helps manufacturers,
retailers and distributors adopt a more sustainable approach to
wholesale purchasing while achieving efficiency-driven cost savings
and incremental sales growth. PlumRiver’s solutions are designed to
quickly and easily integrate with existing IT infrastructure and
ERP systems.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain forward-looking statements,
including, but not limited to, Emerald’s expectations regarding the
strategic and financial benefits from the acquisition of PlumRiver.
These statements involve risks and uncertainties, including, but
not limited to, Emerald’s ability to successfully integrate
PlumRiver’s Elastic platform and operations; the expected levels of
PlumRiver’s revenue and profitability growth; and economic,
competitive, governmental and technological factors outside of the
Company’s control that may cause its business, industry, strategy,
financing activities or actual results to differ materially. See
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in the Company’s most recently filed periodic reports
on Form 10-K and Form 10-Q and subsequent filings. The Company
undertakes no obligation to update or revise any of the
forward-looking statements contained herein, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210106005163/en/
Emerald Holding, Inc. David Doft Chief Financial Officer
1-866-339-4688 (866EEXINVT) Investor.relations@emeraldx.com
Emerald (NYSE:EEX)
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