(2) Will round out QAD s Integrated Supplier Management portfolio, offering best-in-class capabilities to help Procurement Organizations improve profitability QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies, today announced it entered into a definitive agreement to acquire Allocation Network GmbH, a best-in-class solution provider for strategic sourcing and supplier management, based in Munich, Germany.
The acquisition, which is expected to close by the end of 2020, will not have an immediate, material impact on QAD s financial results. The acquisition is in line with QAD s strategy of acquiring quality products with limited market reach and leveraging QAD s global footprint. The acquisition will support QAD s cloud growth within its existing customer base and strengthen its overall product offering.
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