MANHATTAN TO BUY INTREPA
Manhattan Associates Inc., a developer of supply chain execution software, has signed an agreement to acquire transportation and distribution software maker Intrepa LLC for $30 million in a deal that gives Manhattan broader reach in the supply chain integration market.
Manhattan’s core business is in warehouse management software. Intrepa brings broad experience in the transportation management arena, including key accounts in the health care, automotive, media/entertainment, publishing and industrial/wholesale industries.
Intrepa’s key clients include Nissan, Dupont Merck, Novartis, Southern Wines and Spirits, Gerber Products, Pearson Educational Publishing and Bristol Meyer Squibb Canada. Together Manhattan and Intrepa will have more than 750 customers and 1,100 site installations.
Manhattan expects the acquisition to add $14 million to $18 million in additional revenue with no earnings dilution. The software company said this week that third-quarter sales this year rose 68 percent year-over-year to $33.7 million. Net income increased to $5.3 million from $61,000 in 1999.
“The benefits to our collective customers are significant,” said Manhattan president and chief executive officer Richard Haddrill. “Manhattan Associates’ customers will gain access to Intrepa’s transportation solution, while Intrepa’s customers can take advantage of our new optimization product suite and infolink.”