Manhattan Associates Announces Definitive Agreement to Acquire Evant
published: cw 33, 2005 in Mergers & acquisitionsManhattan Associates, Inc. (NASDAQ: MANH), the global leader in providing supply chain execution and optimization solutions, has signed a definitive agreement to acquire Evant, Inc., a provider of supply chain planning and replenishment solutions. Privately held and based in San Francisco and Atlanta, Evant provides solutions to more than 60 companies in the retail, manufacturing and wholesale distribution industries, including many that are joint Manhattan Associates clients. Under the terms of the agreement, Manhattan Associates will pay approximately USD 50 million in cash for the company.
The Evant acquisition extends Manhattan Associates’ solution footprint beyond its current supply chain execution leadership position. This combination of planning, optimization and execution solutions would make Manhattan Associates the only company in the world that provides the complete footprint for supply chain management. Moreover, this acquisition provides the existing Evant customer base the advantage of Manhattan Associates’ suite of Integrated Logistics Solutions, which includes Distributed Order Management, Warehouse Management, Transportation Management, Trading Partner Management, Reverse Logistics Management and RFID in a Box.
The acquisition is subject to customary closing conditions and is expected to close on or before September 30, 2005. The transaction is expected to be about USD 0.02 dilutive to fourth quarter adjusted earnings per share (EPS) for Manhattan Associates this year. For 2006, it is expected the acquisition will add about USD 0.03 cents to adjusted EPS. At this time, it is not possible to estimate the impact of the transaction under Generally Accepted Accounting Principles (GAAP) due to the need to complete an independent appraisal of the net assets being acquired and the related purchase accounting adjustments. The transaction has been approved by both the Manhattan Associates board of directors and the Evant board of directors.
Source: Manhattan Associates
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