Rockville, MD June 7, 2001 Manugistics Group Inc. yesterday announced that it has reached a preliminary agreement with privately held, Rockville, Md.-based SpaceWorks Inc. to acquire SpaceWorks' intellectual property and a certain number of its assets for an undisclosed sum.
Manugistics supplies what it calls Enterprise Profit Optimization (EPO) solutions, a combination of supply chain management and pricing and revenue optimization solutions for enterprises and marketplaces. SpaceWorks was a provider of Web-based order-management technology, including an order transaction engine.
Manugistics believes the combined solution sets brought about by this acquisition could enable enterprises to more profitably manage and fulfill the sell-side customer order, from order submission to delivery. The acquisition of SpaceWorks' technology is a natural extension of Manugistics solutions, said Greg Owens, Manugistics chairman and CEO. This deal would bring together Manugistics' strengths in supply chain and pricing optimization with SpaceWorks' capabilities in real-time order execution and management, enhancing our clients' ability to drive profitability and visibility through the order lifecycle.
Founded in 1993, SpaceWorks, whose clients included Avaya, BF Goodrich, GE Aircraft Engines, and Maytag Corp., among others, provided software solutions that helped enable companies automate complex order-related activities, including order submission, verification of inventory availability and account status, order tracking, product catalog searches, and returns while enabling the seller to better allocate inventory, fill orders and ship products directly to the customer. The company ceased operations in May 2001.
David MacSwain, former president and CEO of SpaceWorks commented on the proposed acquisition. We believe that a relationship with Manugistics, a company with a proven track record of technological expertise and excellence in client services, will deliver tremendous value to SpaceWorks' clients.
This acquisition is subject to certain conditions, including, among others, completion of satisfactory due diligence, execution of a definitive agreement, and approvals of the companies' boards of directors. Prior to completion of the acquisition, Manugistics intends to provide certain support and maintenance services to licensees of SpaceWorks technology, and may enter into further interim agreements, pending closing, with SpaceWorks regarding the servicing, sales and development of SpaceWorks technology.
