Who will buy whom is the big question in the world of supply chain management software companies and Industri-Matematik International Corp is looking an increasingly attractive target. Despite a poor fourth quarter, the Swedish company with offices in Tarrytown, New York, pushed revenues up 60% to $95.3m. IMI boasts big wins in the past year which it sees as its strongest 12-month performance. The company still has growing pains with operating expenses up 45% to $42.6m as it built up its operation, and doubled the size of its services staff to 418. The market was unimpressed with the result and the shares, which have hit a high of $33.62 over the past year were unchanged at $16. A bid would make them cheap at that level.
