Click Commerce Acquires Requisite Technology, Inc.CHICAGO -- Acquisition provides leading Master Data Management capabilities to drive Collaborative Commerce Solutions Across the Demand, Supply and Service Chains Click Commerce, Inc. (Nasdaq:CKCM), a leading provider of collaborative commerce solutions and a pioneer in the software as a service (SaaS) industry, today announced it has acquired Requisite Technology, Inc (Requisite). The acquisition enhances Click Commerce, Inc.'s (Click Commerce) catalog offering by adding a widely-implemented Master Data Management (MDM (Modular Digital Multitrack) An audio recorder that mixes and records multiple tracks of digital audio. The two major MDM technologies are ADAT and DTRS. See ADAT and DTRS. ) capability that is an enabler of collaborative commerce and RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. programs. Requisite's MDM software is currently embedded in one of the world's largest Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) provider's solutions, with approximately 400 of its customers actively using elements of the Requisite solution. Requisite's software is already in use on a SaaS basis with various leading Business Process Outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) providers who are using the applications to support their procurement operations. In addition to providing MDM capabilities, the acquisition adds patented technology and increases Click Commerce's presence in Europe with additional sales and support staff in key markets, providing Click Commerce with additional opportunities to deliver its Demand, Supply and Service chain collaborative commerce solutions. The acquisition broadens Click Commerce's solutions portfolio to include Requisite's Bugseye (R) patented search engine, Content Workstation content cleansing, alignment and validation tools, eMerge(tm) content aggregation and workflow management tools, and a unique framework for using the data across many different levels: industries, regions, companies, and departments. Requisite provides software to many different industries and end users, including the aerospace and defense, commercial aviation, consumer goods, contract repair, high-tech, telecom, petrochemical and transportation industries. Some of Requisite's leading customers include BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , Eastman Kodak, Graybar, Marathon Ashland Petroleum, and Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. . Requisite's solutions enable companies to manage information about any type of item, including finished goods for resale, direct materials used in manufacturing, and indirect materials used in Maintenance, Repair and Overhaul Maintenance, Repair and Overhaul or MRO is a multi-billion dollar industry which works on international authorization rules to deliver a safe airline operation and to assure reliability and availability of customer fleets. (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) operations. These solutions also enable companies to create, collect, align, and enhance data to provide one uniform version of information, regardless of their catalog needs. Requisite's patented search capabilities allow users to search aggregated information to find relevant results and have access to item details and images. Requisite currently licenses certain of its products to one of the world's leading ERP providers, which has sublicensed it to its customers as part of its Supplier Relationship Management (SRM (1) (Storage Resource Management) The management of the storage resources in an organization in order to avoid duplication of files and to determine space utilization across all servers. ) solution. Requisite provides ongoing service and maintenance with respect to its products under subcontract with this ERP provider. As part of Click Commerce's acquisition of Requisite, the ERP provider has extended its contractual relationship with Requisite through 2006. As a result, Requisite will continue to provide support to the end users of its products through the next year. At the end of this contract period, Click Commerce would anticipate continuing to offer customers using Requisite's products support on a direct basis. Click Commerce is purchasing Requisite for approximately 800,000 shares of Click Commerce common stock and approximately $1,000,000 in cash. As a result of the acquisition, Click Commerce's cash and cash equivalents will increase by over $8,500,000. About Requisite Technology, Inc. Requisite Technology develops Master Data Management solutions for transforming disorganized dis·or·gan·ize tr.v. dis·or·gan·ized, dis·or·gan·iz·ing, dis·or·gan·iz·es To destroy the organization, systematic arrangement, or unity of. plant, material, and finished product data into consistent information repositories. Leading business software providers have made Requisite a part of their solutions. In addition, Requisite directly and through its global service partners, including Atos Origin, delivers infrastructure and services that make manufacturers' MDM and related cost reduction projects successful. About Click Commerce Click Commerce, Inc. (Nasdaq: CKCM) provides collaborative commerce solutions for sales and order management, supply chain management, service parts optimization, and compliance automation. Enterprises and institutions in the aerospace and defense, consumer product, distribution, financial services, higher education and health care, manufacturing, retail, telecom, and transportation industries utilize the Company's solutions. Click Commerce enables corporations such as Abbott Labs, Alaska Airlines, BAE Systems, Carrier, Cisco, Citibank, Dell, Delphi, Eastman Kodak, FedEx, Hewlett Packard, Home Shopping Network “HSN” redirects here. For other uses, see HSN (disambiguation). The Home Shopping Network (HSN) is a mostly 24-hour shopping network that is seen on cable, satellite, and some terrestrial channels in the United States. , Honda, IBM, Lockheed Martin, Microsoft, Pier 1, Ryder, Samsung, SBC Communications, Tellabs, Verizon, and Xerox, to coordinate and optimize business processes, accelerate revenue, lower costs, and improve customer service. Five of the top 10 research institutions in North America, including Johns Hopkins, University of Washington, and the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. , use the Company's compliance automation software to automate their regulatory compliance processes and manage research project approvals. More information can be found at www.clickcommerce.com. Copyright Click Commerce is a registered trademark of Click Commerce, Inc. and its subsidiaries. All other company and product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. |
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