Click Commerce Acquires Millennium Portfolio
Company Requisite Technology, Inc.
Chicago, IL -- November 22, 2005
Acquisition provides leading Master Data Management capabilities to drive
Collaborative Commerce Solutions Across the Demand, Supply and Service Chains
Click Commerce, Inc. (Nasdaq:CKCM), a leading provider of collaborative commerce
solutions and a pioneer in the software as a service (SaaS) industry, today announced
it has acquired Requisite Technology, Inc (Requisite). The acquisition enhances
Click Commerce, Inc.'s (Click Commerce) catalog offering by adding a widely-implemented
Master Data Management (MDM) capability that is an enabler of collaborative commerce
and RFID programs. Requisite's MDM software is currently embedded in one of the
world's largest Enterprise Resource Planning (ERP) provider's solutions, with
approximately 400 of its customers actively using elements of the Requisite solution.
Requisite's software is already in use on a SaaS basis with various leading Business
Process Outsourcing (BPO) providers who are using the applications to support
their procurement operations.
In addition to providing MDM capabilities, the acquisition adds patented technology
and increases Click Commerce's presence in Europe with additional sales and support
staff in key markets, providing Click Commerce with additional opportunities
to deliver its Demand, Supply and Service chain collaborative commerce solutions.
The acquisition broadens Click Commerce's solutions portfolio to include Requisite's
Bugseye (R) patented search engine, Content Workstation content cleansing, alignment
and validation tools, eMerge(tm) content aggregation and workflow management
tools, and a unique framework for using the data across many different levels:
industries, regions, companies, and departments. Requisite provides software
to many different industries and end users, including the aerospace and defense,
commercial aviation, consumer goods, contract repair, high-tech, telecom, petrochemical
and transportation industries. Some of Requisite's leading customers include
BASF, Eastman Kodak, Graybar, Marathon Ashland Petroleum, and Union Bank of California.
Requisite's solutions enable companies to manage information about any type
of item, including finished goods for resale, direct materials used in manufacturing,
and indirect materials used in Maintenance, Repair and Overhaul (MRO) operations.
These solutions also enable companies to create, collect, align, and enhance
data to provide one uniform version of information, regardless of their catalog
needs. Requisite's patented search capabilities allow users to search aggregated
information to find relevant results and have access to item details and images.
Requisite currently licenses certain of its products to one of the world's
leading ERP providers, which has sublicensed it to its customers as part of its
Supplier Relationship Management (SRM) solution. Requisite provides ongoing service
and maintenance with respect to its products under subcontract with this ERP
provider. As part of Click Commerce's acquisition of Requisite, the ERP provider
has extended its contractual relationship with Requisite through 2006. As a result,
Requisite will continue to provide support to the end users of its products through
the next year. At the end of this contract period, Click Commerce would anticipate
continuing to offer customers using Requisite's products support on a direct
basis.
Click Commerce is purchasing Requisite for approximately 800,000 shares of
Click Commerce common stock and approximately $1,000,000 in cash. As a result
of the acquisition, Click Commerce's cash and cash equivalents will increase
by over $8,500,000.
About Requisite Technology, Inc.
Requisite Technology develops Master Data Management solutions for transforming
disorganized plant, material, and finished product data into consistent information
repositories. Leading business software providers have made Requisite a part
of their solutions. In addition, Requisite directly and through its global service
partners, including Atos Origin, delivers infrastructure and services that make
manufacturers' MDM and related cost reduction projects successful.
About Click Commerce
Click Commerce, Inc. (Nasdaq: CKCM) provides collaborative commerce solutions
for sales and order management, supply chain management, service parts optimization,
and compliance automation. Enterprises and institutions in the aerospace and
defense, consumer product, distribution, financial services, higher education
and health care, manufacturing, retail, telecom, and transportation industries
utilize the Company's solutions. Click Commerce enables corporations such as
Abbott Labs, Alaska Airlines, BAE Systems, Carrier, Cisco, Citibank, Dell, Delphi,
Eastman Kodak, FedEx, Hewlett Packard, Home Shopping Network, Honda, IBM, Lockheed
Martin, Microsoft, Pier 1, Ryder, Samsung, SBC Communications, Tellabs, Verizon,
and Xerox, to coordinate and optimize business processes, accelerate revenue,
lower costs, and improve customer service. Five of the top 10 research institutions
in North America, including Johns Hopkins, University of Washington, and the
University of Michigan, use the Company's compliance automation software to automate
their regulatory compliance processes and manage research project approvals.
More information can be found at www.clickcommerce.com. |