Software maker Ariba to buy logistics firm Quadrem

Software maker Ariba Inc is to buy Quadrem, a privately held supply chain management company, for US$150 million, reported Associated Press Newswires.

Ariba, based in Sunnyvale, California, will pay $75 million in cash up front for Amsterdam-based Quadrem, along with $50 million in stock and another payment of $25 million, due within 36 months of the acquisition's close. That $25 million may be paid in cash or stock. Ariba also will pay $10 million to modify and terminate aspects of a commercial agreement that Quadrem entered into earlier.

The deal will expand the features offered in Ariba's software, as well as grant it access to the 70,000 suppliers with whom Quadrem does business.

The companies expect the deal to close during the second quarter of Ariba's fiscal 2011 year, which ends March 31.
(Source:www.cargonewsasia.com)