DALLAS and SAN DIEGO BUSINESS WIRE December 27, 2000 i2 Technologies recently announced that it has signed an agreement to acquire the content divisions of Trade Services Holdings, Trade Service Corp. and its affiliate, ec-Content. The two new divisions will operate within i2's Infinite Content business unit. Trade Services Holdings will retain ownership of Trade Service Publications, as well as interest in Trade Power.
i2's acquirement has the potential to effectively broaden Infinite Content's solution scope. Trade Services is a database publisher that specializes in MRO transactional content, offering i2 a 5.2 million item product database. Trade Services currently serves core vertical markets in electrical, plumbing, HVAC/R, office products and automotive aftermarket parts. In addition, Infinite Content will acquire the specialization of ec-Content, which develops and manages content for digital marketplaces, e-procurement and supplier syndication.
We believe the true value of e-marketplaces is predicted on the richness of information contained within them and the scope of choices and services offered, said Tim Leisman, executive vice president and general manager for Infinite Content. Our strategy has been to populate and enrich i2 TradeMatrix and our customers' marketplaces with this critical information.
Anthony Dubreville, CEO of Trade Service and ec-Content, will continue directing these business units under Infinite Content and will continue to provide content offerings to their existing clients and to Infinite Content's customer base. Our high-quality, mission-critical MRO content, joined with Infinite Content's complete offering, will create high-value solutions available nowhere else in the market, Dubreville said.
Under the terms of the agreement, i2 will acquire all the outstanding capital stock of Trade Service Corp. and ec-Content in a purchase transaction of $5 million in cash and approximately 2.3 million shares of i2 common stock reduced by the amount of assumed liabilities of Trade Service Corp. and ec-Content. The estimated closing date is January 2001.
