GNX and WWRE agree to merge

27/04/05 GNX and the WorldWide Retail Exchange (WWRE) have announced that the companies have entered into an agreement to merge. The two companies will combine their technology solutions into a single platform that connects retailers, manufacturers, and their business trading partners to more efficiently and effectively share information and manage work processes. The new company will leverage the greater scale economies to reduce unit costs and drive adoption of industry standards, and will operate the definitive forum for retail best practices.

Under the agreement, which has been approved by the Executive Boards of both companies, the combined entity will operate under a new name, still to be determined. Christopher Sellers, the current CEO of WWRE, will serve as the Executive Chairman, while Joe Laughlin, current CEO of GNX, will serve as CEO of the new company.

The combined entity is backed by the world's largest retailers and suppliers, including: Aeon, Ahold, Albertsons, Auchan, Best Buy, Carrefour, Casino, Coles Myer, CVS, Delhaize, El Corte Ingles, Federated, KarstadtQuelle, Kingfisher, Kroger, Lotte, Metro, PPR Group, Safeway, Sainsbury's, SCA Hygiene, Sears Holdings, Tesco and Walgreens. With more than 8,000 retailer and manufacturer users to date between GNX and WWRE, the new company will bring together a critical mass of the world's largest retailers on a single platform. The resulting entity is expected to accelerate adoption of best practices in trading partner collaboration and relationship management for the entire retail industry.

The new company, which will have the secure backing of multiple year subscription agreements across its retailer members, will leverage the best of both GNX's and WWRE's value propositions to more quickly make their shared visions a reality.