Trace One, a business-to-business platform for retail, CPG and private label, is being acquired by Symphony Technology Group, a private equity firm focused on software, data analytics and software-enabled technology services sectors.
Trace one earlier this year launched a platform to speed up the collaboration and development of private label products.
"Trace One is a great addition to our current global portfolio of 15 software companies and further expands our presence in Europe,” said STG managing partner William Chisholm. “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."
Trace One is one of the world’s largest retail business platforms that enables collaboration around CPG products. Its software-as-a-service offering includes product and packaging, lifecycle management, sourcing and compliance applications and it currently works with 25 leading global retailers and more than 5,000 CPG suppliers. The company said it enables users to create high-quality and compliant own-brand goods quickly.
"I would like to sincerely thank Hg and its team for enabling Trace One, over the past 5 years, to invest in and expand its product portfolio, to improve its level of services and to achieve operational excellence,” said Trace One CEO Christophe Vanackère. “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."