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ClearOrbit to Become a Division of International Business Software and Services Company TAKE Solutions Acquisition Enables ClearOrbit to Provide Unprecedented Global Support, Expanded Development Capabilities and Solutions for Worldwide Markets Princeton, NJ and Austin, Texas – June 25, 2007 – TAKE Solutions, Inc. and ClearOrbit, Inc. today jointly announced that TAKE Solutions has acquired ClearOrbit, a leading supply chain execution and reverse logistics solutions provider. The acquisition will enable TAKE Solutions to form a new U.S.-based supply chain management division with international reach. Privately-held TAKE Solutions is a business software and services company that delivers world-class life sciences and supply chain management solutions throughout global markets. Terms of the deal have not been disclosed. The new division will retain the ClearOrbit brand name. It will combine ClearOrbit with TAKE Solutions' existing Supply Chain Management (SCM) division, which offers an array of innovative products and services allowing customers, partners and suppliers to collaborate online, reduce costs and decrease time-to-market. John Reece, President and CEO of ClearOrbit, will serve as President of the SCM division of TAKE. The existing ClearOrbit management team will continue to report to Reece, with the addition of G. Ramesh, General Manager of TAKE Solutions SCM Asia/Pacific Division. The impact on ClearOrbit's existing organizational structure is expected to be minimal. "This transaction provides a truly outstanding fit between two highly compatible organizations," said Ram Yeleswarapu, President and CEO of TAKE Solutions. "ClearOrbit's excellent personnel, brand name and products, coupled with TAKE Solutions' access to international markets and expanded resource pool, will allow us to reach new heights. The combined organization, led by John Reece and a strong management team, is well positioned to capitalize on the exciting global opportunities this transaction enables." "Being part of TAKE Solutions will enable ClearOrbit to provide its customers with international support and a wider range of products and services to address their supply chain challenges," said Reece. "The acquisition more than doubles our resource and revenue base, while providing new access to international customers who will benefit from our innovative approach to supply chain challenges." About ClearOrbit About TAKE Solutions # # # Company Contact: Press Contact: |
ClearOrbit
solutions allow manufacturers and distributors to orchestrate the
movement of goods through the extended supply network. Our single data model approach
complements existing enterprise applications such as Oracle® and SAP®
to eliminate inefficiencies in supply chain, warehousing, data collection and
reverse logistics.
More
"Since implementing ClearOrbit's solution, our inventory is visible throughout the enterprise, and we can more easily identify products and prioritize them for shipping. This enables us to track the flow of products in and out of our warehouse and reduces the time our warehouse employees spend searching for inventory." Jack Mechem, Business Information Systems Manager, Air Liquide Electronics
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