FOSTER CITY, USA: E2open, the provider of cloud-based solutions for collaborative planning and execution across global trading networks, acquired SERUS corporation, a provider in extended supply chain management (SCM) for high tech companies, for approximately $18.5 million at closing, with up to an additional $7.5 million in cash contingent upon the achievement of certain revenue-related financial performance milestones.
SERUS' technology platform extends visibility into manufacturing andÂ complements E2open's portfolio of cloud-based connectivity, business process and analytics solutions. SERUS' customer roster of semiconductor industry leaders and its employees with significant high tech expertise perfectly align with E2open's traditional strength in high tech.
As product life cycles and new product introductions (NPI) have accelerated in the technology marketplace, SERUS adds cloud-based capabilities in collaboration and managing process intellectual property (IP), NPI, and engineering change orders (ECOs).
These additions provide the E2open business network with extended visibility into outsourced semiconductor manufacturing. With the growing dependence on semiconductor-based products, the addition of SERUS' capabilities has a broad range of applications in key industries such as medical devices, aerospace and defense, automotive, industrial equipment and telecommunications.
Mark Woodward, president and CEO, E2open, said: "I am pleased to announce the addition of SERUS to E2open and our Business Network of more than 38,000 worldwide trading partners. SERUS' market-leading technology platform extends visibility deeper into manufacturing and greatly complements E2open's portfolio of cloud-based connectivity, business process and analytics solutions. SERUS' impressive customer roster of semiconductor industry leaders and its employees with significant high tech expertise perfectly align with E2open's traditional strength in high tech."
"The combination of SERUS and E2open provides the broadest set of capabilities for business networks in the market today," said Bob Ferrari, founder and executive editor of Supply Chain Matters. "Incorporating product management information and bidirectional collaboration with contract manufacturers and design partners will enable companies to more effectively compete on responsiveness, quality, and speed to market."
"SERUS and E2open have a common mission-to offer the industry's leading platform for end-to-end visibility," said Hari Menon, CEO, SERUS. "The deeper visibility into semiconductor and high tech companies' supply chains and earlier design and manufacturing processes offers better decision-making, more flexibility and earlier notification of any potential upstream disruptions."