QAD Completes Acquisition of Allocation Network GmbH
Summary
SANTA BARBARA, Calif.--(BUSINESS WIRE)--QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies, today announced that it has completed the acquisition of Allocation Network GmbH, a best-in-class solution provider for strategic sourcing and supplier management, based in Munich, Germany. “By integrating Allocation Network’s strategic sourcing and supplier management capabilities, we are enhancing QAD’s ability to help procurement organizations improve profitability. In order to survive and thrive, manufacturers must be able to innovate and change business models at unprecedented rates of speed. Over 2,000 manufacturing companies have deployed QAD solutions including enterprise resource planning (ERP), demand and supply chain planning (DSCP), global trade and transportation execution (GTTE) and quality management system (QMS) to become an Adaptive Manufacturing Enterprise. Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the companys business, future economic performance or any of the assumptions underlying or relating to any of the foregoing.
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