About the transaction
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies has acquired Allocation Network GmbH, a best-in-class solution provider for strategic sourcing and supplier management, based in Munich, Germany.
Founded in 1998, Allocation Network is a best-of-breed solution provider for strategic sourcing and supplier quality management with approximately 50 employees. Allocation Network centralizes and organizes the entire post-contract procurement process of a product lifecycle using its Supplier Management, Sourcing, Auctions and Collaboration modules. The company’s integrated cloud-based solutions are sold to customers including BMW, Denso, MAGNA, Siemens, VOITH and Volkswagen. With a strong presence in the German automotive market, Allocation Network enhances QAD’s position in supporting the world’s fourth largest automotive marketplace.