/// Netsuite Acquires Point-of-Sale Company Retail Anywhere
Remember how last year, Netsuite, the cloud software company that mid-sized companies run their business added to the growing list of things offered “as a service.” Its contribution to that list, announced in May, was “ commerce-as-a-service .” Netsuite’s approach was and is to managing both the back-end bit of business-to-business commerce, as well as the direct-to-customer type of commerce in a unified way. Netsuite called it SuiteCommerce, and it has turned out to be a pretty big deal. In fact one of its key partners in was a small-ish company called Retail Anywhere that specializes in point-of-sale terminals and software. Retail Anywhere had decided to build its next generation of POS terminals using SuiteCommerce. Retail Anywhere had created the popular Retail Anywhere point-of-sale app for Apple’s iOS devices. The two companies went to market jointly, and the result was a surprise for at least one of them. “We crushed them with demand,” Netsuite CEO Zach Nelson told me. So today Netsuite announced that it has bought Retail Anywhere. Financial terms aren’t being disclosed because it’s not material to Netsuite’s finances. Nelson told me that Netsuite and Retail Anywhere had 30 joint customers, but that among its existing customer base, there are 500 companies who consider themselves retailers could could take advantage the combined offering. Plus there are thousands of existing Retail Anywhere customers — the company has been around for 28 years — who will get exposed to Netsuite. One thing that’s not staying, Nelson said, is the point-of-sale hardware business. “We’re going to get out that business,” he said. Eventually, he says, in-store retail will look a lot more like e-commerce. “More and more you’re seeing sales reps walking around stores with iPads swiping credit cards,” he says. And things like that are having an effect on shoppers’ attitudes. A Deloitte survey conducted during last year’s holiday season found that retailers who had several touchpoints through which to engage with a consumer had a 71 percent of selling to them than those who relied only on the old-school brick-and-mortar approach
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