Cartera Commerce, Vesdia to merge
Tom Beecher, CEO of Lexington MA-based Cartera, will become chief executive and president of the new organization, while Vesdia CEO Jim Douglass will assume the role of EVP for retail advertising and partnerships.
Beecher said the merger won't result in layoffs, and Vesdia's Atlanta offices will remain open. The company's post-merger headcount will be about 150 employees.
Beecher called Vesdia a “pioneer” in the market, particularly with respect to “building relationships with bricks-and-mortar merchants in the retail space, at the national, regional and local levels.”
“We began to focus on bricks-and-mortar retailers about a year and a half ago…but our major investments have been more in technology platforms, and then secondarily with in-store,” said Beecher. “The opportunity to put both of those pieces together, we think, is a great value proposition for our clients and for retailers.”
Mall Networks rebranded as Cartera last year.
Financial terms of the deal were not disclosed.