Activant Solutions to Buy Speedware Corp. - aftermarketNews

Activant Solutions to Buy Speedware Corp.

Activant Solutions has entered into an agreement to acquire Canadian enterprise software provider Speedware Corp. The acquisition would include Speedware's operating divisions Enterprise Computer Systems (ECS) Inc., Prelude Systems Inc., OpenERP Solutions and Speedware Ltd. When completed, the acquisition will expand Activant's customer base to more than 20,000 locations. Activant has identified four segments it plans to grow with this acquisition, including lumber and building materials (LBM), automotive aftermarket, wholesale trade and hardware and home center retailing. By incorporating the Speedware product line, Activant bolsters its offerings in these segments.

AUSTIN, Texas and MONTREAL, Quebec — Activant Solutions has entered into an agreement to acquire Canadian enterprise software provider Speedware Corp.

The acquisition would include Speedware’s operating divisions Enterprise Computer Systems (ECS) Inc., Prelude Systems Inc., OpenERP Solutions and Speedware Ltd.

When completed, the acquisition will expand Activant’s customer base to more than 20,000 locations. Activant has identified four segments it plans to grow with this acquisition, including lumber and building materials (LBM), automotive aftermarket, wholesale trade and hardware and home center retailing. By incorporating the Speedware product line, Activant bolsters its offerings in these segments.

Activant will expand its presence with wholesale customers through Prelude’s Advanced Distribution System (ADS). In addition, Speedline’s OpenERP will introduce Activant to small and mid-size manufacturing customers with next-generation ERP and supply chain applications built on open source platforms. Speedware Ltd. delivers business intelligence and system migration tools, which complement the product offerings of both companies.

“Activant is focused on growth and acquisitions to become the premier technology provider of vertical ERP software and solutions to select industries,” said Larry Jones, CEO of Activant Solutions. “The acquisition of Speedware is our first big step in this new direction and lays the foundation for revenue growth, technology innovation and increased thought leadership in key vertical segments.”

“Activant’s deep vertical expertise, large installed customer base and solid technology are a natural fit with Speedware’s business,” said Andrew Gutman, CEO of Speedware Corp. “We believe the combined entity will give our customers additional world-class service and best-of-breed products for driving their business growth.”

Under the terms of the agreement signed on Jan. 24, an Activant subsidiary will make a tender offer to purchase all of the issued and outstanding shares of common stock of Speedware Corp., including all shares of common stock issuable upon exercise of currently outstanding options and warrants, for $3.91 (CDN) per share in cash.

The offer, which will be subject to customary closing conditions, is expected to close within 45 to 60 days. As permitted under U.S. securities law, the offer will be conducted as a take-over bid in accordance with applicable Canadian securities law.

Activant has also entered into an agreement with certain security holders of Speedware who have agreed to tender securities representing approximately 48 percent of the outstanding common shares of Speedware (on a fully diluted basis) to the offer.

For more information about Activant, go to: www.activant.com.

For more information about Speedware Corp., visit: www.speedware.com.

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

Automechanika: Moving Toward Zero-Carbon Transportation

More companies than ever before will be presenting products and solutions in the field of electromobility at the upcoming Automechanika in Frankfurt, the organization said.

Automechanika EV

More companies than ever before will be presenting products and solutions in the field of electromobility at the upcoming Automechanika in Frankfurt, September 10-14, the organization said. They include manufacturers from China like BYD, SMART, the GEELY Group, AVATR, JIYUE, SERES, Chang An, HONGQI, GAC International and many more.

Hengst Filtration Acquires Canadian-American Filter Company

Hengst will take over North American hydraulic filter manufacturer Main Filter.

Hengst Filtration Acquires Canadian-American Company
BASF Exhibiting at The Battery Show Europe 2024

The company will present its range of products targeted to enable advancements of battery technologies and future automotive mobility.

BASF-Exhibiting-at-The-Battery-Show-Europe-2024
Litens Aftermarket Introduces New Tensioner Technology

A new Easy Button latch featuring Litens’ TAP (Technician Assist Pin) technology enables a safer and more efficient tensioner replacement that can be done by a single technician, the company said.

Litens-Aftermarket-Introduces-New-Tensioner-Technology
ENEOS, Mighty Auto Parts Announce Distribution Partnership

Mighty will stock the ENEOS 0W-8 Motor Oil, ENEOS Import DPS Fluid, and ENEOS ECO CVT Fluid.

ENEOS, Mighty Auto Parts Announce Distribution Partnership

Other Posts

GSP Announces June CV Axle Part Numbers

GSP released 76 new CV axle part numbers this month.

GSP-Announces-June-CV-Axle-Part-Numbers
Valvoline Announces Winners of Oilympics Competition

Valvoline awarded a first place, gold winning team for both the U.S. and Canada.

Valvoline Announces Winners of Oilympics Competition
Women at the Wheel: Lisa Coyle

Coyle is CEO of Promotive and 360 Payment Solutions.

WATW_Lisa_Coyle
Thoughts on Autonomous Commercial Vehicles

Everyone has an opinion on the viability of autonomous vehicles and their ultimate impact on the transportation aftermarket.

Schwartz Report