SPS Commerce Inc., a provider of Internet-based supply chain management software for the retail industry, agreed Wednesday to acquire ToolBox Solutions, a provider of point-of-sale analytics software and product category management services to retailers and consumer packaged goods suppliers in North America. SPS will pay $18.4 million in cash and $4.5 million in stock.

ToolBox Solutions works with retailers and CPG suppliers in the convenience, grocery and drug store segments. Executives say the acquisition will expand SPS Commerce’s retail customer base from the more than 60,000 organizations located in 60 countries its serves today and strengthen its offerings in analytics software designed to help retailers and suppliers better understand how to produce inventory to match demand.

“In the omnichannel era, retailers and suppliers need rich insights into consumers’ purchase behavior, both in store and online,” says Archie Black, CEO of SPS Commerce. “Enabling collaboration and visibility between trading partners around consumer demand trends and inventory is essential in order to drive growth. With the acquisition of ToolBox Solutions, we expand our expertise in point-of-sale analytics for both retailers and suppliers. We’re excited to incorporate ToolBox Solutions’ success into SPS Commerce’s global network.”

SPS Commerce anticipates the acquisition will increase its revenue by about $1.45 million in the first quarter of 2016 and by $6 million for the full year.

Neither company commented on how the acquisition will affect employee headcount. But they said ToolBox employees will continue to work at the ToolBox headquarters in Toronto.

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