Provider looks to strengthen offering in core markets, extend reach into new verticals
Chicago — May 24, 2004 — Click Commerce, a provider of software and services for business relationship management and compliance automation, is acquiring B2B e-commerce solution provider bTrade in a move to strengthen Click's offering in its core markets and extend its reach into new markets.
Under the acquisition deal, Click Commerce is expected to issue approximately 850,000 shares of its common stock and fund the repayment of, or assume, approximately $1.2 million of existing bTrade indebtedness. Other terms of the acquisition are not being disclosed at this time.
The completion of the acquisition is subject to conditions and contingencies, including the negotiation and execution of definitive documentation. The two sides currently expect the transaction to be completed in early June.
A provider of solutions for secure communications and trading partner management, bTrade has customers in the manufacturing, financial services and consumer products verticals, including Honda, Stanley Tools, Emerson, BankOne, ABN AMRO, Citibank, Unilever and RCA.
In addition, the company has positioned itself as a provider in the market for product item synchronization established by the Uniform Code Council (UCC) with the backing of major retailers in the consumer packaged goods market. HomeDepot, for example, has selected bTrade as its exclusive supplier for product item synchronization with its suppliers.
A privately held firm, bTrade was founded in 1990, and is headquartered in Irving, Texas.
"Our acquisition of bTrade reflects our vision for the future of partner management," said Michael Ferro, chairman and CEO of Click Commerce. "Retailers are an important part of our customers' sales channels. Combining our two organizations, we have the solutions and expertise to deliver sales channel collaboration and optimization across all channel types."
Ferro said that Click would leverage bTrade's experience in helping suppliers who sell through retail channels to coordinate product, price and promotion information electronically, using that expertise to help customers in the manufacturing and high tech industries. "Many of our clients do business with the same retailers using bTrade solutions today," Ferro noted.
David Lonsdale, chairman and CEO of bTrade, said that his company's solutions, hosted delivery model and position in the supplier-retailer collaboration space should provide synergies with Click Commerce's core businesses. "The solid financial position of Click Commerce will also allow bTrade to further its leadership position into the retail and consumer products markets," Lonsdale added.