Vendavo Acquires JetMinds and Expands European Operations

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Continues investment in innovation and augments engineering capability.

The acquisition of JetMinds adds more than 50 engineers and consultants to the Vendavo team, to accelerate investment in innovation and increase European implementation capability.

Vendavo®, the world’s leading provider of Price Management and Optimization solutions for companies that serve businesses (B2B), announced that it has acquired JetMinds. JetMinds is a Czech software development and implementation company based in Prague, Czech Republic with additional offices in Ostrava and Hradec Králové. The acquisition of JetMinds adds more than 50 engineers and consultants to the Vendavo team, to accelerate investment in innovation and increase European implementation capability.

“I am delighted to welcome the JetMinds team to Vendavo,” said Neil Lustig, Vendavo’s CEO. “JetMinds has been a strategic partner since 2007 and has worked shoulder-to-shoulder with us on some of our largest development and implementation projects. The JetMinds culture is a perfect fit for Vendavo. This driven team of talented engineers and consultants matches our startup pace and our commitment to customer success.”

“We invested a lot of time and energy finding and developing the best engineers and consultants graduating from top schools in an economy now driven by technical excellence,” said Jiri Fabian, CEO of JetMinds. “The whole team is excited about joining Vendavo. The Price Management and Optimization space is an ideal application for enterprise software. It gives our engineers the opportunity to tackle very intellectually challenging pricing scenarios and encapsulate them in flexible and user-friendly enterprise solutions that all of our customers can benefit from.”

"Vendavo and JetMinds have been close partners for more than four years. Joining Vendavo is a natural evolution of our relationship and I am excited about our future together," said Milan Boruvka, JetMinds’ Managing Director.

About Vendavo (http://www.vendavo.com)

Vendavo is the leading provider of price management and optimization solutions for large enterprises worldwide. The company’s solution drives bottom-line results by giving businesses true enterprise-wide control of their entire pricing process. Vendavo’s enterprise-class software solution delivers big increases in profits—from 10-30 percent—by systematically driving incremental improvements in average prices throughout the pricing process. Vendavo is the enterprise pricing solution of choice for more than 200 company divisions at some of the world's biggest names in high-tech, manufacturing, chemicals, consumer products, medical devices, mill products, and distribution. SAP, the worldwide leader in enterprise software, offers the Vendavo solution as SAP Price and Margin Management by Vendavo. To learn more, or to request information, please visit http://www.vendavo.com.

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Ken Pulverman
Vendavo
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