Press Releases
TradeBeam Acquires the Assets of eTime Capital
San Mateo, CA, June 25, 2002—TradeBeam, Inc. acquired the assets of eTime Capital on June 1, 2002. The transaction was a stock and cash deal, acquired out of bankruptcy.
eTime Capital spent over $45m dollars developing solutions for its customers that helped them optimize their cash flow cycle. E-time applied a unique approach to financial supply chain management and gained significant momentum in the market. They developed groundbreaking technology and a differentiated capability that links financial settlement to the global trade logistics business processes through reconciliation, exception management and real-time reporting. These capabilities are expected to provide an excellent complement to TradeBeam’s existing global trade business process and document management solution.
The transaction will accelerate end-to-end global trade functionality for TradeBeam by 12 months, with major releases planned for September and December 2002. After these releases, the TradeBeam solution will have capabilities that broadly integrate the global trade functions of logistics and finance, cementing a clear path to differentiation and enabling TradeBeam to achieve its customer value proposition of removing 6 days of cash flow for its customers.
“This deal is accretive to our business plan and provides us significant product knowledge and intellectual property in financial supply chain management,” according to Graham R F Napier, TradeBeam CEO.
About TradeBeam
TradeBeam, Inc. provides a business performance platform that enables enterprises and their trading partners to improve global trade cash flows. The TradeBeam solution manages the entire breadth of global trade functionality from order to logistics to settlement. Global enterprises as well as their logistics providers, banks, and other partners, achieve a new level of process, event, document, and workflow management. Through a simple Web interface TradeBeam provides Visibility, Accountability, Automation, Synchronization and Reconciliation for global trade.