SPS Commerce Inc. is exploring a potential sale and has hired Morgan Stanley to advise on the process. The Minneapolis-based supply chain software provider is responding to pressure from activist investors Anson Funds and Irenic Capital.
Both investment firms previously disclosed stakes in the company and advocated for a strategic review to maximize shareholder value. The push for a sale follows a significant decline in the company's market value.
SPS Commerce recently forecast slowing revenue growth for 2026. The sale process is expected to attract interest from private equity firms.