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TrueCommerce Announces Definitive Acquisition Agreement with Welsh, Carson, Anderson & Stowe

Strategic investment from private equity firm WCAS to accelerate TrueCommerce’s growth in existing and new markets

PITTSBURGH, PA – (NOVEMBER 11, 2020) — TrueCommerce, a global provider of trading partner connectivity and integration solutions, has announced today that it will be acquired by Welsh, Carson, Anderson & Stowe (WCAS), a leading technology-focused private equity firm. WCAS’s investment in TrueCommerce will support continued organic growth in its existing customer segments and geographies, as well as expansion into new segments and capability areas through a focused acquisition strategy.

“We are very excited to partner with WCAS in our continued journey as a leader in supply chain collaboration, connectivity, and integrations,” said Michael Cornell, CEO of TrueCommerce. “Pairing the TrueCommerce management team’s deep domain expertise with WCAS’s investment acumen and track record of accelerating growth in technology companies will lead to promising outcomes for the marketplace and customers.”

WCAS’s strategy is to invest in growth-oriented companies, partner with outstanding management teams, and build value through a combination of organic growth initiatives, and strategic acquisitions.

“The WCAS team is thrilled to partner with TrueCommerce’s management team which has successfully built market leading technologies for the supply chain industry,” said Ryan Harper, General Partner, WCAS. “We believe TrueCommerce is uniquely positioned to leverage its strong foundation to become the clear global leader in the supply chain collaboration, connectivity, and unified commerce enablement space.”

WCAS will acquire TrueCommerce from Accel-KKR with the acquisition expected to close in the next thirty days, subject to customary closing conditions. WCAS was advised by Evercore. TrueCommerce and Accel-KKR were advised by William Blair and PJ Solomon.

About Welsh, Carson, Anderson & Stowe

Founded in 1979, WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. WCAS has deep experience in acquiring founder-led businesses and corporate carve-outs. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit

About Accel-KKR:

Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.

About TrueCommerce:

TrueCommerce is the most complete way to connect your business across the supply chain, integrating everything from EDI, to inventory management, to fulfillment, to digital storefronts and marketplaces, to your business system, and more. For decades, TrueCommerce has helped businesses be more connected, more supported, and more prepared for what’s next. With a team of more than 600 employees, offices around the world and 120,000 pre-connected trading partners, TrueCommerce has the expertise and cutting-edge technology to help you stay ahead in today’s dynamic global market. That’s why thousands of companies operating in more than 50 countries—ranging from startups to the global Fortune 100, across various industries—rely on us. Visit