Acquisition serves as retail cornerstone for RedPrairie's E2e strategy; to connect store operations with manufacturing, workforce performance and distribution
Milwaukee, WI, and Atlanta June 19, 2006 RedPrairie Corp. and BlueCube Software Inc. jointly announced that they have signed a definitive agreement, whereby RedPrairie will acquire BlueCube Software. The combined companies, operating under the name RedPrairie Corp., will unify and support all products and services from both organizations within RedPrairie's end-to-end E2e suite.
BlueCube Software President Kim Eaton will continue to serve in the Retail / Store Operations business leadership position out of Atlanta, under the direction of RedPrairie Company Leader John Jazwiec.
The acquisition provides a cornerstone for RedPrairie's E2e consumer-driven strategy that will connect store operations with manufacturing, workforce performance and distribution.
Said Jazwiec: "We are creating a model in which a consumer purchase acts as the trigger for replenishment by extending shelf-level visibility and control downstream to manufacturing,. This enables retailers to transfer inventory management responsibility to suppliers to effectively reduce inventory carrying costs and cycle times."
Eaton commented, "Becoming part of RedPrairie gives BlueCube Software customers new opportunities to improve their business through a comprehensive suite of supply chain and workforce management tools. We envision that this alliance will strengthen our best-in-class product set; we will help customers reach further into the supply chain to connect store operations with suppliers, resulting in even greater operational control, visibility and efficiencies."
The acquisition combines RedPrairie's E2e Workforce Performance and Supply Chain Management solutions with BlueCube Software's Workforce Forecasting and Scheduling capabilities. BlueCube Software's Workforce Scheduling application creates efficient and low-cost schedules based on criteria including: labor supply, skill and rank; pay rates; labor laws; preferred shifts; union rules; and many other factors. When coupled with RedPrairie's Workforce Performance Management solution, the scheduling application will be able to factor in known employee productivity levels to drive savings and efficiencies.
This acquisition will close in the next 20 to 30 days. The combined company is expected to generate $207.5 million in revenue and $45.6 million EBITDA, and employ 950 employees across 21 global sites.