Press Releases
TradeBeam Holdings Inc., Acquires SupplySolution, Inc.
San Mateo, CA, April 6, 2004—TradeBeam Holdings, the leading provider of Global Trade Management applications, announced the acquisition of SupplySolution, the leading provider of supply chain execution application (i-Supply) for communicating inventory levels and consumption patterns. The Company has in excess of 3,000 paying customers and employs 125 people in offices in the United States, Germany and Australia. As part of the transaction, TradeBeam Holdings closed incremental investment resulting in the company having no debt and $10m cash on hand. It is believed that the Company is on track to be cash flow breakeven this year.
“This acquisition benefits both companies and our respective customers. TradeBeam and SupplySolution had similar roadmaps to manage order, inventory replenishment, compliance, logistics and payment for the domestic and international movement of goods. This will enable our customers to avoid the issues of deploying multiple point solutions to manage their global supply chains,” according to Graham R F Napier, TradeBeam Holdings, President and CEO.
SupplySolution’s capabilities will provide an excellent enhancement to TradeBeam’s existing Global Trade Management application suite. The transaction will accelerate the development of end-to-end global trade functionality by adding inventory flow management to TradeBeam’s solution. Existing i-Supply customers will benefit from a fully integrated order, logistics and payment application suite.
“AMR Research sees three immediate benefits to existing customers of both vendors: tighter coupling of inventory management, compliance, logistics and payments; better global support for growing markets in Europe and Asia; and reduced vendor viability risk,” said Kevin Mixer, Research Director, AMR Research.
About TradeBeam
TradeBeam is a Global Trade Management company providing applications for managing the lifecycle of a trade across domestic and international order, logistics, and settlement activities to improve operating efficiencies and working capital.
About SupplySolution
SupplySolution is a leading supply-chain execution company, delivering value to manufacturers, distributors, and suppliers through the implementation of a collaborative supply chain application (i-Supply). Today, i-Supply is one of the most widely used real-time applications for communicating inventory levels and consumption patterns in the automotive industry, in operation at over 2,000 organizations.