|[June 04, 2014]
E2open Acquires SERUS Corporation
FOSTER CITY, Calif. --(Business Wire)--
(NASDAQ: EOPN), the leading provider of cloud-based solutions for
collaborative planning and execution across global trading networks,
today announced the acquisition of SERUS Corporation, a market leader in
extended supply chain management (SCM) for high tech companies, for
approximately $18.5 million at closing (comprised of approximately $14.5
million in cash and $4.0 million in E2open common stock), with up to an
additional $7.5 million in cash contingent upon the achievement of
certain revenue-related financial performance milestones. By combining
SERUS' robust technology with the E2open Business Network, the company
extends its dominance in the high tech supply chain with the addition of
technology for design for manufacturing, contracts and compliance, as
well as early stage visibility in the semiconductor and
technology-driven discrete manufacturing industries.
As product life cycles and new product introductions (NPI) have
accelerated in the technology marketplace, SERUS adds industry-leading,
cloud-based capabilities in collaboration and managing process
intellectual property (IP), NPI, and engineering change orders (ECOs).
These additions provide the E2open Business Network with extended
visibility into outsourced semiconductor manufacturing. With the growing
dependence on semiconductor-based products, the addition of SERUS'
capabilities has a broad range of applications in key industries such as
medical devices, aerospace and defense, automotive, industrial equipment
"I am pleased to announce the addition of SERUS to E2open and our
Business Network of more than 38,000 worldwide trading partners," said
Mark Woodward, President and CEO, E2open. "SERUS' market-leading
technology platform extends visibility deeper into manufacturing and
greatly complements E2open's portfolio of cloud-based connectivity,
business process and analytics solutions. SERUS' impressive customer
roster of semiconductor industry leaders and its employees with
significant high tech expertise perfectly align with E2open's
traditional strength in high tech."
SERUS orchestrates the data and decision-making from engineering to
operations nd finance for companies in near real-time when disruptive
changes occur that will impact output, inventory, costs and ultimately
customer satisfaction. Dealing with issues such as demand spikes,
propagation of engineering changes, or supplier interruptions, SERUS
monitors all supply chain progress on a granular level, allowing
partners to review detailed root cause analysis and make recommendations
for solutions to problems that arise. For high tech companies whose
survival depends on complex and outsourced supply chains, SERUS'
cloud-based monitoring and adept analysis is the high technology
standard bearer. SERUS customers include: AMD, Cypress, Flextronics,
IDT, Juniper, Nvidia, Oracle and Qualcomm/Atheros (News - Alert).
"The combination of SERUS and E2open provides the broadest set of
capabilities for business networks in the market today," said Bob
Ferrari, Founder and Executive Editor of Supply Chain Matters.
"Incorporating product management information and bidirectional
collaboration with contract manufacturers and design partners will
enable companies to more effectively compete on responsiveness, quality,
and speed to market."
"SERUS and E2open have a common mission-to offer the industry's leading
platform for end-to-end visibility," said Hari Menon, CEO, SERUS. "The
deeper visibility into semiconductor and high tech companies' supply
chains and earlier design and manufacturing processes offers better
decision-making, more flexibility and earlier notification of any
potential upstream disruptions."
E2open (NASDAQ: EOPN) is the leading provider
of cloud-based, on-demand software solutions enabling enterprises to
procure, manufacture, sell, and distribute products more efficiently
through collaborative planning and execution across global trading
networks. Enterprises use E2open solutions to gain visibility into and
control over their trading networks through the real-time information,
integrated business processes, and advanced analytics that E2open
provides. E2open customers include Celestica, Cisco, HGST, HP, IBM,
Lenovo, L'Oréal, LSI, Motorola Solutions, Seagate, and Vodafone (News - Alert). E2open
is headquartered in Foster City, California with operations worldwide.
For more information, visit www.e2open.com.
"Safe harbor" statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking
statements, including, without limitation, statements regarding E2open's
acquisition of SERUS, the combination of SERUS' capabilities and
technologies with E2open's Business Network and solutions, and the
results of such combination. The achievement or success of the matters
covered by such forward-looking statements involves risks, uncertainties
and assumptions. If any such risks or uncertainties materialize or if
any of the assumptions prove incorrect, the Company's results could
differ materially from the results expressed or implied by the
forward-looking statements we make.
The risks and uncertainties referred to above include, but are not
limited to, risks associated with the Company's ability to successfully
integrate newly-acquired companies or businesses; the Company's growth
strategy; the Company's plans for future products; the Company's
operating results; the Company's ability to anticipate future market
demands and future needs of its customers; the Company's customer
concentration; the Company's ability to effectively manage its growth;
the Company's expectations regarding expenses, sales and operations;
anticipated trends and challenges in the markets in which the company
operates; the Company's competition; and the Company's ability to
successfully enter new markets and manage its international expansion.
Further information on these and other factors that could affect the
Company's financial results is included in the filings made with the
Securities and Exchange Commission, including the Company's annual and
quarterly reports on Form 10-K and Form 10-Q, respectively. These
documents are available on the SEC (News - Alert) Filings section of the Investor
Relations section of the Company's website at: investor.e2open.com.
E2open, Inc. assumes no obligation and does not intend to update these
forward-looking statements, except as required by law.
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