Packaging producer expands solutions lineup with addition of supply chain execution apps
St. Paul, MN — January 6, 2004 — 3M announced this week that it has entered into a definitive agreement to acquire HighJump Software, a provider of supply chain execution software and solutions.
The deal, terms of which were not disclosed, is subject to regulatory approval and approval by HighJump Software's shareholders.
"Adding HighJump Software's suite of supply chain execution solutions gives 3M a powerful new platform to grow our existing service and solutions business, focused on helping customers optimize their business processes," said John Pohl, division vice president for 3M Industrial Services and Solutions Division. "HighJump Software brings to 3M tremendous market knowledge and experience, strong industry and channel relationships, and proven business practices."
3M sees demand for supply chain execution solutions growing as customers across many markets face increasingly complex supply chains driven globally by customer and regulatory requirements. HighJump Software provides a suite of supply chain execution solutions that includes integrated applications for warehouse and yard management, transportation management, supply chain visibility and event management, trading partner collaboration and data collection.
In January 2003, 3M launched the 3M Integrated Packaging Tool, a Web-based, data-enabled packaging information management system. 3M said that this tool is the first to integrate product information, package design and production systems to better manage compliance, time to market, product surety and packaging costs for customers in industries such as food and beverage, life sciences, chemical and consumer packaged goods.
Combining 3M's brand and global presence with HighJump's supply chain execution expertise will help customers optimize their business processes across an even broader range of industries and geographies, 3M asserted.
Commenting on the transaction, Chris Heim, CEO of HighJump Software, said: "This is the right thing to do for our customers and our employees. We'll be located in the same place, with the same strong focus on serving our customers. 3M's global strength and brand leadership will make us even stronger."
This transaction is expected to close in late January after regulators and HighJump Software's shareholders approve the transaction.
