Celarix Acquires Management Dynamics, Inc.: Acquisition Extends Leadership Position In the Market and Offers Comprehensive Solution to Transportation Service Providers.Business Editors BOSTON--(BUSINESS WIRE)--Feb. 22, 2000 Celarix, Inc., the leading provider of web-based transportation procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet services, today announced it has signed a definitive agreement to acquire New Jersey-based Management Dynamics, Inc., a leading developer of tariff and contract management software for ocean carriers. This acquisition strengthens Celarix's lead in providing the first comprehensive, transportation procurement and e-commerce solution offered to transportation service providers in the industry. "Actions speak much louder than words. By combining our existing strengths with the capabilities and client base Management Dynamics has in place, we have added extensive value for our service providers -- especially those who realize the value of integrating outward-facing web applications with back-office processes," said Evan Schumacher, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Celarix, Inc. "Our strategy is to deliver the most comprehensive and integrated Web-based solution that serves both buyers and sellers in the transportation and logistics industries. Joining forces with Management Dynamics is the first of several strategic moves we plan to make in order to round out our services and address the needs of both shippers and service providers." Management Dynamics was founded in 1984 and moved into a niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. as an application service provider (ASP) offering tariff and contract management software to ocean carriers in the early 1990s. Since then, the company has become a leader in the industry and counts some of the world's largest ocean carriers - including Maersk Sealand, Evergreen evergreen, term commonly used as synonymous with conifer and applied also to all those broad-leaved plants that bear green leaves throughout the year. Of the latter, most are plants of the tropics, subtropics, and other areas where the growing season is prolonged (e. and Hamburg Hamburg, city, Germany Hamburg (häm`b  rkh), officially Freie und Hansestadt Hamburg (Free and Hanseatic City of Hamburg), city (1994 pop. Sud - among its many customers.
"We are excited to join forces with Celarix and have the opportunity to offer a more comprehensive solution to our customers," said John Preuninger, president of Management Dynamics. "Continuing to transform our service offering into a more comprehensive Web-based format and addressing both sides of the equation (carrier and shipper SHIPPER. One who ships or puts goods on board of a vessel, to be carried to another place during her voyage. In general, the shipper is bound to pay for the hire of the vessel, or the freight of the goods. 1 Bouv. Inst. n. 1030. ) as a total solution, we're breaking new ground in the industry and promoting greater collaboration among the logistics and transportation communities." Celarix intends to operate Management Dynamics as a wholly-owned subsidiary and retain all employees. The current office in New Jersey will serve as the Celarix sales and customer service base for the Greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area and continue to grow as Celarix continues to build its team. John and James Preuninger will join Celarix as vice presidents, reporting to Evan Schumacher. Integration of Management Dynamics' applications and services will begin immediately and the comprehensive solution is currently available to customers. Since its inception, Celarix has raised over $59 million in funding from venture capital and private investors. Its last round, announced January 20, was led by Chase H&Q, with additional funding from Technology Crossover Crossover The point on a stock chart when a security and an indicator intersect. Crossovers are used by technical analysts to aid in forecasting the future movements in the price of a stock. In most technical analysis models, a crossover is a signal to either buy or sell. Ventures, Integral Capital Partners, Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Ventures, TL Ventures, Comdisco and private investors. About Celarix Based in Boston, Mass., Celarix, Inc., was founded in August 1998 by experts from the supply chain, logistics, technology and transportation industries. Celarix provides shippers and transportation service providers with comprehensive, integrated applications that combine the ability to manage the procurement of transportation services and the logistics process on-line. By uniting the power of web-hosted software applications with the speed and accessibility of the Internet, Celarix empowers professionals responsible for the logistics and transportation process to make informed decisions with measurable results. For more information on Celarix and its solutions, access the company's Web-site at www.celarix.com. |
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