Alpharetta, GA Ñ February 27, 2003 Ñ NetVendor and Teradyne this week announced the two companies have completed the sale of Teradyne's Manufacturing Software Group (MSG) to NetVendor Inc. The two groups, both located in the metro Atlanta area, have merged to become Visiprise Inc., effective immediately.
The new corporation, according to both companies, will focus on developing, marketing and selling software solutions for discrete manufacturers, including manufacturing execution systems (MES) software, quality management software and new product introduction software. The Alpharetta, Georgia-based facilities that have served Teradyne MSG have become the new corporate headquarters of Visiprise.
Sean McCloskey, CEO, Visiprise (formerly CEO, NetVendor), said, "NetVendor and our investors had been looking for an acquisition that would strengthen our position in the market and create the opportunity for long-term success. The new company will have greater breadth and leverage, allowing us even more capability of delivering on collaborative manufacturing execution solutions Ñ our core competency."
Teradyne is retaining a stake in the new company as a minority shareholder and will continue to have an ongoing relationship with Visiprise as a customer of the SCE product. Visiprise SCE allows manufacturers to manage and control processes across the entire enterprise, giving real-time visibility into operations across the globe. The addition of NetVendor's product line, Embrace Collaborative Workspace, as a module to SCE will strengthen SCE with modules targeted at FDA compliance, document management, new product introduction, mechanical CAD viewing and markup, collaboration tools and business process management, according to the company.