Symphony Technology Group Acquires Trace One
Symphony Technology Group, a Palo Alto-based private equity firm focused on investing in the software, data analytics, and software-enabled technology services sectors, has announced the acquisition of Trace One, the dedicated B2B collaborative platform for the retail and CPG industries, as well as private label.
Trace One is the world's largest collaborative retail business platform for consumer-packaged-goods. It provides one SaaS-inclusive platform with multiple interlocking business applications including product and packaging lifecycle management, sourcing, and compliance, with its client base including 25 leading global retailers and more than FMCG manufacturers.
Trace One enables customers to create higher quality, trusted, and compliant own-branded goods faster, delivering benefits to their consumers and the environment.
Next Phase Of Growth
“I would like to sincerely thank Hg and its team for enabling Trace One, over the past five years, to invest in and expand its product portfolio, to improve its level of services and to achieve operational excellence," commented Christophe Vanackère, CEO at Trace One. "I am also very excited for our next phase of growth as we partner with STG to accelerate our organic initiatives as well as explore strategic acquisitions."
Also commenting on the acquisition, William Chisholm, Managing Partner at STG, said, “Trace One is a great addition to our current global portfolio of 15 software companies and further expands our presence in Europe.
"We are very excited to partner with Christophe and his team and leverage our experience as long-standing investors in the Retail and CPG software space to help Trace One further expand its value proposition to customers and accelerate its growth trajectory.”