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Follow UsBANGALORE: CDC Software, a wholly-owned subsidiary of CDC Corporation, and a provider of industry-specific enterprise software applications and business services, today announced it has signed a binding term sheet to acquire WKD Solutions Ltd., a provider of supply chain event management and business activity monitoring (BAM) solutions,U.K.-based WKD Solutions markets its products under the Categoric Software brand.
This acquisition is subject to several standard closing conditions including the receipt of approval from the Board of Directors of CDC Software and the satisfactory completion of due diligence by CDC Software, said a press release.
Under an OEM agreement, Categoric's supply chain event management technology has been used in CDC Software's Catalyst product line for several years.
In the event the acquisition is completed, Categoric's solutions, including real time alerting, process automation, corrective action tracking, and key performance indicator (KPI) dashboards, are expected to be integrated into the CDC Supply Chain solutions, the release added.
"We are excited to be pursuing this acquisition since we took a break to concentrate on integrating our prior acquisitions and rightsizing our platform," said Peter Yip, CEO, CDC Software.
"We believe now is the time to return to our prior 'focus, acquire and grow strategy' through mergers and acquisitions that help expand the breadth of our enterprise applications and fill the technology opportunities in our product roadmap,” he added.
Yip said that CDC Supply Chain has been helping customers address rising costs in their supply chain during the recessionary market conditions within their industry.
"We were one of the first companies to develop a proactive business management solution that incorporated real time alert technology, and we are excited with the prospect of bringing this innovative technology and our extensive expertise to one of the leading supply chain providers in the industry," said Kevin Noakes, CEO of WKD Solutions.