Enhancing its portfolio of supply products, Atlanta-based Manhattan Associates has paid Internet Capital Group (ICG)
$20 million cash for its Logistics.com subsidiary.
Software from Burlington, Mass.-based Logistics.com lets businesses manage shipper and carrier contracts as well as arrange for spot procurement by truck, plane or ship in the United States and abroad.
Logistics.com’s products are Web-based and message-driven. Based on extensible markup language
The combined offerings will “provide the industry with the broadest suite of integrated supply chain execution solutions, which will greatly benefit our collective customers,” said Richard Haddrill, Manhattan Associates president and CEO .
Haddrill said advantages for users will include lower overall costs for transportaion spending, inventory management and administration; beter reporting tracking and alerts; and improved customer service.
The acquisition also brings two similar customer bases together. Manhattan Associates has licensed more than 800 customers including large manufacturers, distributors and retailers. Logistics.com’s has customers in those sectors plus high-tech and grocery concerns.
“We believe that given today’s environment, we received an attractive valuation for the company,” said Walter Buckley, chairman and CEO of ICG.
Wayne, Penn.-based ICG said it will use proceeds from the sale to support its core partner companies as they strive for profitability. A one-time high-flier with investments in a broad range of technology firms, ICG has been honing its focus over the past year.
