Speed Commerce Announces Exploration of Strategic Alternatives

Speed Commerce, Inc. SPDC, a provider of ecommerce technology and omni-channel solutions for retailers, today announced that the company's Board of Directors has formed a special committee to explore strategic alternatives, including a sale of the company. "Speed Commerce's Board of Directors is engaging in this formal process after having received unsolicited proposals and believe this approach will serve to supplement the company's continuing success, in addition to creating improved long-term value for the company's shareholders," said Timothy R. Gentz, Chairman of Speed Commerce's special committee of the Board of Directors. "Given the dramatic transformation of Speed Commerce into a leading e-commerce services provider, we believe that now is the right time to engage in this process." Richard Willis, President and Chief Executive Officer of Speed Commerce, added, "We continue to see compelling long-term opportunities for Speed Commerce, and we are excited about the progress that has been made with the integration of Fifth Gear. As the special committee of our Board of Directors focuses on the strategic alternatives process, we will continue with the onboarding of new clients and with our preparations for a successful trade season." Stifel is serving as financial and strategic advisor to the company in connection with this exploration of strategic alternatives. There can be no assurance that this process will result in any transaction. The company does not currently intend to disclose further developments with respect to this process, unless and until its Board of Directors approves a specific transaction or otherwise concludes this review of strategic alternatives.