Thursday, July 29, 2010

Food supply chain software vendor being sold for $525 mil

Roper Industries said Monday it plans to buy on-demand SCM (supply chain management) software vendor iTradeNetwork from private equity firm Accel-KKR for US$525 million. The transaction is expected to close later this week.

Some 6,200 customers use iTradeNetwork's offering, which is aimed at the food industry. The pending deal will provide Roper with "additional scale to pursue acquisitions in the software solutions space," according to a statement.

TradeNetwork's software will work in concert with technologies Roper gained from its previous acquisitions of TransCore and the CBORD Group, according to Ray Wang, partner with Altimeter Group.

TransCore develops RFID (radio frequency identification) and vehicle-tracking technologies, while CBORD's products include cashless card systems and food service management software.

Meanwhile, iTradeNetwork's application provides customers with product sourcing, procurement, supply chain analytics and other capabilities.

-Bloomberg BusinessWeek

For the full story: www.businessweek.com

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