Thursday, December 17, 2020

QAD Acquiring German Company, Allocation Network GmbH

Santa Barbara-based QAD, which develops enterprise software used in the manufacturing sector, says it is in a definitive agreement to acquire a German company, Allocation Network GmbH, which provides strategic sourcing and supplier management. Financial details of the deal were not announced, and QAD said that the acquisition will "not have an immediate, material impact" on its financial results. The deal is expected to close by the end of 2020. QAD says it will incorporate Allocatio Network's sourcing, supplier management, and procurement systems into its Integrated Supplier Management portfolio.