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Digital Goodie, the Finnish creator of an award-winning digital platform for Headless Connected Commerce, announced today it has acquired Maginus, a UK-based company developing e-commerce software and technology solutions for mid-market retailers and distributors. The combination will create one of the most powerful, scalable industry players with a complete suite of e-commerce applications.
Based in Manchester, UK, Maginus develops commerce software and technology solutions for mid-market retailers and distributors with the goal of providing unified customer experiences across physical and online channels. Its full-feature Order Management System (OMS) solution serves companies in B2B and B2C e-commerce. Maginus, which won Magento’s 2019 Shooting Star Award and Episerver’s Commerce Partner of the Year Award, is also an integrator of front-end e-commerce systems.
Irwin Kramer, Chairman of Digital Goodie says: “We are very excited to add Maginus to our e-commerce strategy as complementary add on to Digital Goodie. This combination creates a unique platform in the e-commerce market with a headless commerce offering built on a micro-services architecture with the ability to serve both grocery and general product retailers.”
The two companies share extensive synergies, and with joined forces, the new company has an expanded market presence, a significantly broader product offering, and enhanced competencies. The company will be able to serve multiple retail segments, i.e. Grocery and General product categories. Initially, the plan is to expand in Europe and eventually target major global markets with the help of Digital Goodie’s main owner Black Dragon Capital. Black Dragon Capital is a global private equity firm with significant relevant domain expertise, that focuses on investing in high growth SaaS technology companies.
Moris Chemtov, CEO of Digital Goodie comments: “This acquisition is an exciting strategic decision for both companies as we have such strong synergies both on the product side and in market presence. Our combined company will have a full e-commerce platform capable of handling the complete assortments portfolio of retailers. With this enhanced scale and expanded product suite we will be in a position to capture a greater share of the retail market, and become a significant player for the industry. In fact, combined, we will be the only company in the field equipped to serve Enterprise and SMB size customers both in the Grocery and General retail segments.”
Simon Weeks, CEO of Maginus says: “We are very excited to join forces with Digital Goodie, and we believe strongly in our combined product offering. Our proven Order Management System platform and our e-commerce integration capabilities for the retail industry are a perfect fit with Digital Goodie’s cloud-based digital commerce platform for the grocery retailers. Together we can achieve great things in the European and international e-commerce market, which is expected to grow significantly in the years to come.”
The market opportunity in Order Management Systems is constantly growing. According to BDS Analysis, the global multichannel OMS market is expected to grow from $1.5 Billion in 2018 to $2.4 billion by 2023, a compound annual growth rate (CAGR) of 10.8% during the forecast period. Cloud deployment is expected to have the largest share of the multichannel order management market where the main growth factors are digital transformation, proliferation of smartphone and internet users, and multiple sale channels.
Louis Hernandez, Jr., founder, chairman and managing director of Black Dragon Capital says: “The combined Maginus and Digital Goodie company will have a one-of-a-kind cloud-based platform to handle the complete product portfolio of retailers. The enhanced scale and expanded product suite will position the company to capture a greater share of the vast Order Management System market, which is projected to grow at an average rate of 11% a year through 2023.”
Moris Chemtov, Digital Goodie, CEO, +1 514 892 4343, firstname.lastname@example.org
About Digital Goodie
Digital Goodie is a Finnish digital commerce technology company providing a modern and fully customizable connected commerce platform aiming at connecting online and brick and mortar worlds to one seamless and simple user experience. The Digital Goodie Connected Commerce platform was included in the Gartner Digital Commerce Vendor Guide 2018 among the leading applications of the digital commerce ecosystem. The platform runs on top of a new generation microservices architecture consisting of modular commerce and fulfillment solutions.
Digital Goodie was founded in 2009, and has headquarters in Helsinki, Finland. Digital Goodie is backed by the US based e-commerce growth fund Black Dragon Capital.
Based in Manchester, UK, Maginus develops e-commerce software and technology solutions for mid-market retailers and distributors with the goal of providing unified customer experiences across physical and online channels. Its full-feature, proprietary OMS solution serves companies in B2B and B2C e-commerce. Maginus, which won Magento’s 2019 Shooting Star Award and Episerver’s Commerce Partner of the Year Award, is also an integrator of front-end e-commerce systems.
About Black Dragon Capital
Black Dragon Capital, based in Miami, Fla., is a minority-led private equity firm with a focus on growth investments, particularly in digital commerce, financial services and media technology. Black Dragon's team of industry professionals have significant operational experience, strong financial backgrounds and proven track records of success and investment experience, ranging from startups to billion-dollar organizations in both public and private vehicles. The company leverages its network expertise and deep domain knowledge to assist in accelerating growth and profits in selected markets – all while working closely with entrepreneurs.
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