Venda courted by buyers

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The Independent Online

Venda, the technology firm that builds e-commerce sites for the likes of Tesco and Superdrug, has hired Arma Partners to advise on strategic options after it was approached by potential buyers.

Venda head Eric Abensur said: "The main strategy for our business is to float in around 18 months, but we will have discussions with parties on all options."

The London-based firm was founded in 2001 by internet entrepreneurs Dan Wagner and James Cronin. It has 260 staff and other offices in New York and Bangkok.

Venda's web, mobile and social-commerce software is used by Monsoon, Urban Outfitters, Condé Nast and Jimmy Choo. It is also working with Facebook to improve retailers' e-commerce sites.

On Friday, US-based e-commerce Bazaarvoice announced its plans for a New York flotation and hired Morgan Stanley, Deutsche Bank and Credit Suisse. Earlier this year, eBay bought Magento, and Oracle bought ATG for around $1bn.