No price was given for the acquisition, and i2 said it expects to offer continued support to Irving California-based RiverOne’s previous customers and anticipates hiring a number of its employees.
i2 CEO Michael McGrath said that RiverOne’s software will add a multi-enterprise execution platform that extends its supply chain collaboration capabilities. He said it is also strategic because it will expand its customer base in electronics manufacturing where i2 already had significant market share.
In November 2005 i2 sold its content and data services business to IHS Inc for $30m, and in December it raised $75m through a private placement of senior convertible notes and warrants. McGrath said that now it is on a solid financial footing it can evaluate strategic acquisitions.
As part of our growth strategy, we are open to acquisitions that will expand our customer base, as well as those that will enable us to add products and services for our current customers. RiverOne fits that profile, he said.
