EXE Acquires AllPoints Systems
Supply chain execution companies blend technologies, management, and customer bases
Boston, MA – [January 26, 2001] – Covington Associates, seasoned M&A advisors to technology and healthcare, today announced the sale of its client, Norwood-based AllPoints Systems, Inc. (“AllPoints”), to EXE Technologies, Inc. (“EXE”), a publicly-traded provider of fulfillment, warehousing and distribution software for e-commerce and traditional distribution channels. AllPoints, which provides Web-based planning, visibility, and execution technology for the demand chain, brings an experienced management and employee team to EXE, in addition to installed customer bases within the retail, food, grocery, and replacements parts market.
In a stock-for-stock merger, EXE will issue approximately 1.6 million shares of EXE common stock and assume options for an additional 400,000 shares of EXE common stock in exchange for all outstanding AllPoints securities. The AllPoints acquisition blends complementary supply chain execution technologies and offerings, extending EXE’s global reach within numerous vertical markets, including catalog, general merchandise, apparel, consumer electronics, and e-commerce companies.
“Acquiring complementary technology and building on our vertical market presence are key components of our growth strategy,” said Ray Hood, President and CEO of EXE, in a news release dated January 19, 2001. “We see an opportunity with AllPoints systems’ innovative technology to broaden our fulfillment functionality and accelerate the extension of our process management capabilities beyond the four walls of fulfillment centers. We also believe the combination will enable us to expand into new verticals and better address the needs of small- and medium-size enterprises, a rapidly growing segment of the supply chain execution market.”
“Clearly, there is a tremendous opportunity in the supply chain execution space as customers look to global capability to deliver well-executed supply chain solutions,” said Glenn D. House, President and CEO of AllPoints Systems, in the January 19, 2001 release. “EXE with AllPoints Systems creates a compelling choice for customers worldwide that require capabilities in a rapidly deployable, technically advanced solution. We are very excited to be part of the leading global supply chain execution firm.”
About Covington Associates
Covington Associates are seasoned M&A advisors to technology and healthcare. Focused exclusively on mergers and acquisitions, Covington Associates has established a track record of success based on deep domain experience and an unrivaled level of service from a team of senior advisors. Since 1991, the firm has successfully completed over 50 transactions ranging in size from $10 million to over $1 billion in e-services, software, IT services, and healthcare technologies. To learn more about Covington Associates, visit www.covingtonassociates.com.