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Austin-based E2open acquires UK software maker for $1.7 billion

Michael Farlekas is CEO of E2open, which announced it would acquire BluJay Solutions in a deal valued at $1.7 billion.

Austin-based E2open is purchasing a United Kingdom-based logistics software company for $1.7 billion in a stock and cash deal expected to expand the company’s supply chain services. 

E2open was founded in 2000 and makes a cloud-based platform for supply chain management that is designed to give companies access to real-time data from customers, channels, suppliers, manufacturers and partners.

E2open said it plans to acquire BluJay Solutions for 72.4 million shares of stock and about $760 million in cash.  Current BluJay shareholders will own a 22% stake in E2Open once the deal closes. 

The combined company will have projected revenue of more than $550 million in fiscal 2022, according to E2open.

Manchester-based BluJay Solutions makes cloud-based supply-chain management software and services. The company's technology uses data, networks and applications to manage freight transportation and global trade and serves more than 5,700 global customers. BluJay has offices globally, including a U.S. headquarters in Michigan and an office in Massachusetts. 

E2open chairman Chinh Chu said the deal is a natural next step for the businesses to accelerate their growth.

The combined company will expand E2Open's supply chain management technology and transportation network, with features including over-the-road trucking and air transport and e-commerce technology such as last-mile and parcel, the announcement said.  E2open also said the deal would expand trade networks to allow for more data collection and insights. 

Prior to the acquisition, E2open had more than 2,400 employees globally, with about 650 in North America. It also has more than 1,200 customers in a range of industries including technology, consumer, industrial and transportation, with customers including Advanced Micro Devices, Microsoft and Oracle.

"Combining E2open’s end-to-end platform and large trading partner network with BluJay’s leading logistics execution software, we will provide more robust capabilities and value to our customers, unlocking a greater opportunity to accelerate our long-term growth," E2open president and CEO Michael Farlekas said in a written statement. "This transformative acquisition advances our strategy and is consistent with our approach to (mergers and acquisitions) over the last five years.”

BluJay Solutions CEO Andrew Kirkwood said his company is excited for the strategic combination.

“Together, we will deliver a more powerful supply chain software platform built upon the world’s largest global trade network,” he said. 

The deal comes just months after E2open entered the stock market. In February, the supply chain technology maker went public through a nontraditional route, using a merger deal. The deal valued E2open at $2.57 billion

The company merged with CC Nueberger Principal Holdings I, which is a special-purpose acquisition company, meaning a company created with the purpose of acquiring another company. E2open is now traded as E2open Parent Holdings Inc under the symbol ETWO.

E2-Open has grown through acquisitions in recent years.  In 2018, the company acquired New Jersey-based software maker Inttra and Florida-based Cloud Logistics.

In 2019, the company acquired publicly traded New Jersey-based software maker Amber Road for $425 million. E2Open took the company private once the transaction was complete.

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Sours: https://www.statesman.com/story/business/2021/06/02/austin-supply-chain-company-e-2-open-acquires-blujay-solutions/7509672002/

E2open

E2open, LLC is a business-to-business provider of cloud-based, on-demand software for supply chains for computer, telecom and electronics systems, components and services. The company was founded in 2000 as a joint project of 8 major companies: Hitachi, IBM, LG Electronics, Matsushita, Nortel, Seagate, Solectron, and Toshiba.[1]

E2open offers its products across a variety of industries, including high technology,[2] industrial manufacturing,[3] telecommunications,[4] life sciences, oil and gas,[5] consumer electronics, aerospace and defense, and consumer goods.[6]

Company[edit]

E2open is headquartered in Austin, Texas, with offices in Parsippany, NJ, Atlanta, Germany, United Kingdom, Denmark, China, France, Malaysia, and India.[7]

According to the company's estimate, more than 60,000 trading partners and 200,000 unique registered users currently participate in the E2open Business Network.[8]

In July 2012, E2open went public on the NASDAQ.[9]

In March 2015, Insight Venture Partners announced that it had completed its acquisition of E2open.[10]

Acquisitions of E2open[edit]

  • July 2013: acquired supply chain vendor ICON-SCM.[11]
  • June 2014: acquisition of SERUS Corporation, a "cloud-based manufacturing and product management provider".[12]
  • March 2016: acquisition of Terra Technology.[13]
  • June 2016: acquired Orchestro.[14]
  • February 2017: acquired Steelwedge.[15]
  • Late 2017: acquired Channel Data Management provider Zyme.[16]
  • Early 2018: acquired Entomo and Birch Worldwide.[17]
  • October 2018: bought the shipping platform INTTRA.[18]
  • July 2, 2019: E2open completes acquisition of global trade management software company Amber Road.[19]
  • May 2021: acquired logistics execution platform BluJay Solutions.[20]

See also[edit]

References[edit]

  1. ^"A new electronics B2B exchange emerges."EE Times. June 8, 2000.
  2. ^"HP selects E2open as platform for global supplier collaboration."Logistics Management. April 18, 2013.
  3. ^"Johnson Controls Building Efficiency enhances manufacturing excellence with real-time supply chain management tool."BE News. December 11, 2014.
  4. ^"Orange selects E2open to provide end-to-end supply chain visibility."Supply Chain Digital. June 11, 2015.
  5. ^"Visible Flow."European Oil & Gas. p. 12. April 2015.
  6. ^"L’Oreal Looks to Collaboration for More Agile Manufacturing Process."The Wall Street Journal. September 23, 2013.
  7. ^"Contact & Locations".
  8. ^"Tech Bytes: E2open, Aljex Software, FourKites, UNIT45 and Globe Tracker International". American Shipper. February 23, 2015.
  9. ^"E2open prices IPO at $15 per share". Silicon Valley Business Journal. July 26, 2012.
  10. ^"Term Sheet -- Friday, March 27". FORTUNE. March 27, 2015.
  11. ^"E2open Acquires icon-scm: More Than Meets the Eye". Spend Matters. July 31, 2013.
  12. ^"Breaking Technology News: E2open to Acquire SERUS Corporation". Supply Chain Matters. June 4, 2014.
  13. ^bakeryandsnacks.com. "E2open acquires Terra Technology". bakeryandsnacks.com.
  14. ^"Orchestro Acquisition Complements E2open's Vision for Respond Planning". www.gartner.com. Retrieved 2017-10-22.
  15. ^"Steelwedge Acquisition Enables E2open to Offer Full Planning Suite". www.gartner.com. Retrieved 2017-10-22.
  16. ^"E2open Acquires Zyme, Increases Downstream Supply Chain Visibility". Archived from the original on 8 March 2018. Retrieved 2018-03-08.
  17. ^"E2open Strengthens Channel Data Management Capabilities with Acquisitions of Birch Worldwide and Entomo". www.businesswire.com. 2018-01-25. Retrieved 2019-04-02.
  18. ^Page, Paul (2018-10-22). "Software Provider E2open Buys Shipping Platform Inttra". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-24.
  19. ^"E2open Completes Acquisition of Amber Road". Supply Chain Digital Review.
  20. ^"E2open to Buy BluJay Solutions in $1.7 Billion Deal". Supply Chain Digital. Retrieved 2021-07-26.
Sours: https://en.wikipedia.org/wiki/E2open
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E2open Completes Acquisition of BluJay Solutions and Raises Fiscal Year 2022 Guidance

Accelerates growth of the largest SaaS supply chain software platform

SOURCE: E2open Parent Holdings, Inc. (NYSE: ETWO)

AUSTIN, Texas – September 1, 2021 – E2open Parent Holdings, Inc. (NYSE: ETWO), a leading network-based provider of cloud-based, mission-critical, end-to-end supply chain management platform, today announced it has completed its acquisition of BluJay Solutions, a leading cloud-based, logistics execution platform.

“The acquisition of BluJay is a continuation of our strategy to offer the broadest and most data-rich SaaS supply chain platform,” said Michael Farlekas, chief executive officer at E2open. “The largest and most iconic global brands are re-imagining their supply chains to be more agile, more resilient, and reduce their environmental impact.  E2open now offers more extensive capabilities, timely data, and continued innovation to help them accomplish their strategic objectives. We are excited to share our combined capabilities with our customers and welcome BluJay’s talented team to E2open.”

“We’re delighted to embark upon this strategic opportunity together, at a time when customers need the powerful combination of supply chain data, networks, and applications from planning through execution more than ever,” said Andrew Kirkwood, chief executive officer at BluJay Solutions. “E2open is uniquely positioned to increase global reach and broaden its offerings for customers, who will benefit from this commanding platform for the future.”

Compelling strategic benefits to accelerate future organic growth

  • Creates leading, independent SaaS-based supply chain platform spanning supply chain planning and execution: The acquisition of BluJay materially expands E2open’s supply chain execution capabilities and expands E2open’s network participants by nearly 25 percent, most specifically in transportation and logistics. Additionally, BluJay brings a highly complementary global trade management platform that encompasses customs declaration and filing to E2open’s strong capabilities in compliance and tariffs. The acquisition further adds key direct-to-consumer offerings including last mile, parcel and dropship commerce.
  • Increases global reach and TAM: BluJay’s global footprint, with customers and offices across EMEA and APAC, will strengthen E2open’s global reach and ability to penetrate emerging markets with international leadership based in the UK. E2open’s primarily enterprise customer base will be bolstered by BluJay’s strong presence in the upper mid-market, adding more than $9 billion to an already significant TAM opportunity in North America and Europe.
  • Complementary go-to-market strengths: BluJay’s go-to-market strategy emphasizes new client acquisition. E2open’s go-to-market strategy has historically focused on cross-selling to existing customers. The combination leverages each company’s respective strengths to broaden the pool of cross-sell opportunities and significantly accelerates E2open’s strategic new logo growth initiative. Moreover, BluJay’s Transportation Management System solution provides E2open with another significant tip of the spear product to accelerate new logo growth for the combined company.
  • Enhances E2open’s leading supply chain networks: E2open operates a leading trade network with over 220k network participants. BluJay brings 50k network participants that include service providers across all modes of transportation and customs authorities across multiple countries with an estimated $40 billion in annual commerce spend and 1.9 billion annual transactions.
  • Broadens E2open’s data and analytics offerings: E2open’s network and data will be expanded by BluJay’s 50k network participants, expanding access, data sources, and insights for customers across freight and visibility for better business decision-making. This will substantially increase the monetization opportunity that E2open already has today for its data.

Financial Outlook for Fiscal Year 2022

E2open is increasing its full year, non-GAAP revenue guidance for the fiscal year 2022 on a stand-alone basis to $373 million to $375 million, compared with previous guidance of $369 million to $371 million. This reflects an E2open stand-alone organic growth rate of 11 percent over the prior fiscal year.

Due to the strong performance of E2open and BluJay Solutions, on a pro forma basis, E2open is increasing the combined company’s fiscal year 2022 non-GAAP revenue by $12 million to $570 million as compared to the previous guidance of $558 million.

$570 million of full year pro forma non-GAAP revenue guidance equates to $472 million of non-GAAP revenue as adjusted for the closing date of September 1, 2021.  The previous combined company’s non-GAAP revenue guidance adjusted for the September 1, 2021 closing date was $466 million.

Refer to the Non-GAAP Revenue Outlook Tables at the end of this press release for more detail. Fiscal year 2022 full guidance, including non-GAAP gross profit and adjusted EBITDA, will be updated in conjunction with the second quarter earnings release.

Other Highlights

  • E2open expects mid-teens free cash flow per share accretion on a pro forma basis over the next 12 months.
  • The combination is expected to generate $20 million of run-rate cost savings, reflecting 5% of combined company costs.
  • Accelerates organic revenue growth and higher net retention due to strength of combined solutions on one platform and significant cross-sell opportunities.
  • As a result of the transaction, Francisco Partners and Temasek have become significant shareholders and each entity will appoint a new member to the existing E2open board of directors.

Transaction Details

E2open acquired BluJay Solutions for an aggregate of 72.4 million shares of Class A Common Stock (representing approximately a 60% rollover of the seller’s pre-closing equity) and approximately $770 million in cash consideration including the repayment of BluJay’s debt facility.

To finance the transaction, E2open secured $300 million in a common equity PIPE from institutional investors, representing an additional 28.9 million shares of Class A Common Stock.   An additional $380 million in indebtedness was drawn through an expansion of the Company’s term loan which also provided a portion of the cash consideration.

Advisors

Credit Suisse is serving as lead financial advisor to E2open, and sole equity capital markets advisor and placement agent to E2open. Rothschild & Co is serving as financial advisor and delivering a fairness opinion to E2open and its Board of Directors. Berenson & Company is serving as financial advisor to E2open and Kirkland & Ellis LLP is serving as legal advisor to E2open.

Goldman Sachs is serving as exclusive financial advisor to BluJay, Lazard is serving as capital markets advisor to BluJay, and Latham & Watkins LLP is serving as legal advisor to BluJay.

About E2open

At E2open, we’re creating a more connected, intelligent supply chain. It starts with sensing and responding to real-time demand, supply and delivery constraints. Bringing together data from clients, distribution channels, suppliers, contract manufacturers and logistics partners, our collaborative and agile supply chain platform enables companies to use data in real time, with artificial intelligence and machine learning to drive smarter decisions. All this complex information is delivered in a single view that encompasses your demand, supply and logistics ecosystems. E2open is changing everything. Demand. Supply. Delivered.TM Visit www.e2open.com.

E2open and the E2open logo are registered trademarks of E2open, LLC. Demand. Supply. Delivered. is a trademark of E2open, LLC.

Non-GAAP Financial Measures

This press release includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”) including non-GAAP revenue, adjusted EBITDA, and non-GAAP gross profit. These non-GAAP financial measures are not a measure of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity, or performance under GAAP. You should be aware that the Company’s presentation of these measures may not be comparable to similarly titled measures used by other companies.

The Company believes this non-GAAP measure of financial results provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in comparing the Company’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures.

Safe Harbor Statement

Certain statements in this press release are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about the Company’s expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “outlook,” “guidance” or the negative of those terms or other comparable terminology.

Please see the Company’s documents filed or to be filed with the Securities and Exchange Commission, including the annual report filed on Form 10-K, and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this press release. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact

Adam Rogers

E2open

[email protected]

515-556-1162

 

Media Contact

WE Communications for E2open

[email protected]

512-527-7029

 

E2OPEN PARENT HOLDINGS, INC.

NON-GAAP REVENUE(1) OUTLOOK

($ in millions)

Adjusting for the closing of BluJay on September 1, 2021 (the first day of E2open’s fiscal third quarter), the combined company guidance at the time of announcement of the transaction was $466 million of non-GAAP revenue guidance.  The total pro forma revenue guidance for the full fiscal year ending February 28, 2022 for the combined business was $558 million.

ETWO chart 1 1

Fiscal year 2022 non-GAAP revenue guidance on a combined company basis is $470 million to $474 million, an increase of $4 million to $8 million from the $466 million guidance provided at the announcement of the transaction.

ETWO chart 2 1

  1. Non-GAAP revenue adds back amortization of the fair value adjustment to deferred revenue resulting from the business combinations as required by GAAP
  2. Full pro-forma view of both businesses with E2open fiscal year end February 28 and BluJay fiscal year end March 31
  3. Reflects non-GAAP full year revenue of E2open and 2nd half of BluJay
  4. Reflects full year of E2open per our previous guidance and the corresponding 2nd half BluJay guidance given a 9/1/2021 transaction close date
  5. Reflects full year of E2open and the corresponding 2nd half BluJay revised guidance for full fiscal year 2022 as of the transaction closing September 1, 2021
  6. Based on the mid-point of non-GAAP revenue guidance reaffirmed on July 14, 2021
  7. Fiscal year 2022 BluJay and total company growth rate at announcement was 7% and 9% respectively. The updated growth rate of 6% and 8% respectively are due to the over performance of the BluJay’s business in fiscal fourth quarter 2021
  8. Revised guidance growth rate based on mid-point of revised guidance range
  9. Total company revised non-GAAP revenue midpoint of $472 million equates to $570 million on a full pro forma basis for fiscal year 2022 vs. original pro forma guidance of $558 million
Sours: https://www.blujaysolutions.com/275852/
E2open Harmony

Companies using E2open

We have data on 405 companies that use E2open. The companies using E2open are most often found in United States and in the Computer Software industry. E2open is most often used by companies with >10000 employees and >1000M dollars in revenue. Our data for E2open usage goes back as far as 5 years.

If you’re interested in the companies that use E2open, you may want to check out SAP Procurement and Coupa as well.

Who uses E2open?

Some of the companies that use E2open include:

CompanyR2Integrated, LLC
Websiter2integrated.com
CountryUnited States
Revenue10M-50M
Company Size200-500
CompanyAriba Inc.
Websiteariba.com
CountryUnited States
Revenue200M-1000M
Company Size1000-5000
CompanyWebsiteCountryRevenueCompany Size
R2Integrated, LLCr2integrated.comUnited States10M-50M200-500
Ariba Inc.ariba.comUnited States200M-1000M1000-5000

Target E2open customers to accomplish your sales and marketing goals.

Customize E2open users by location, employees, revenue, industry, and more.

E2open Market Share and Competitors in Supplier Relationship & Procurement Management

We use the best indexing techniques combined with advanced data science to monitor the market share of over 15,000 technology products, including Supplier Relationship & Procurement Management. By scanning billions of public documents, we are able to collect deep insights on every company, with over 100 data fields per company at an average. In the Supplier Relationship & Procurement Management category, E2open has a market share of about 1.9%. Other major and competing products in this category include:

E2open
Supplier Relationship & Procurement Management

405

Companies using E2open

E2open market share in Supplier Relationship & Procurement Management is about 1.86%
E2open market share in Supplier Relationship & Procurement Management is about 1.86%

405

Companies using E2open

Supplier Relationship & Procurement Management
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What is E2open?

E2open is the leading provider of cloud-based, on-demand software solutions enabling enterprises to procure, manufacture, sell, and distribute products more efficiently through collaborative planning and execution across global trading networks. Enterprises use E2open solutions to gain visibility into and control over their trading networks through the real-time information, integrated business processes, and advanced analytics that E2open provides.

Top Industries that use E2open

Top Industries that use E2open

Looking at E2open customers by industry, we find that Computer Software (25%), Computer Hardware (7%), Manufacturing (7%) and Information Technology and Services (7%) are the largest segments.

Companies using E2open - Distribution by industry

Top Countries that use E2open

Top Countries that use E2open

69% of E2open customers are in United States.

E2open customers by country

Distribution of companies that use E2open based on company size (Employees)

Distribution of companies that use E2open based on company size (Employees)

Of all the customers that are using E2open, a majority (58%) are large (>1000 employees), 16% are small (

Companies using E2open, by size (number of employees)

Distribution of companies that use E2open based on company size (Revenue)

Distribution of companies that use E2open based on company size (Revenue)

Of all the customers that are using E2open, a majority (56%) are large (>$1000M), 32% are small (<$50M) and 6% are medium-sized.

E2open clients - distribution by company revenue

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Customize E2open users by location, employees, revenue, industry, and more.

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Sours: https://enlyft.com/tech/products/e2open

Customers e2open

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