FOSTER CITY, Calif. –– E2open (NASDAQ: EOPN), the leading provider of cloud-based solutions for collaborative planning and execution across global trading networks, announced the acquisition of SERUS Corporation, a market leader in extended supply chain management (SCM) for high tech companies, for approximately $18.5 million at closing (comprised of approximately $14.5 million in cash and $4.0 million in E2open common stock), with up to an additional $7.5 million in cash contingent upon the achievement of certain revenue-related financial performance milestones. By combining SERUS’ robust technology with the E2open Business Network, the company extends its dominance in the high tech supply chain with the addition of technology for design for manufacturing, contracts and compliance, as well as early stage visibility in the semiconductor and technology-driven discrete manufacturing industries.
As product life cycles and new product introductions (NPI) have accelerated in the technology marketplace, SERUS adds industry-leading, 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.
“I am pleased to announce the addition of SERUS to E2open and our Business Network of more than 38,000 worldwide trading partners," said Mark Woodward, President and CEO, E2open. “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.”