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Chief Technology Officer
First Name
Aditya
Last Name
Srivastava
Title
Chief Technology Officer
Headline
JDA completes acquisition of i2
Company Name
JDA
Industry
Software & Internet: Software , Software & Internet Other
Company Website
City
Scottsdale
Date of announcement/
Effective date
Effective date
Jan 28 2010
Type
Appointment
The full text of the press release
Thursday, January 28, 2010, 3:24pm MST
JDA completes acquisition of i2
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JDA Software Group Inc. has completed its $604 million acquisition of i2 Technologies Inc., cementing the deal on its second attempt.
The companies announced finalization of the deal Thursday. The cost represents a price of $19.79 per share of i2 stock.
The move strengthens Scottsdale-based JDA’s (Nasdaq:JDAS) standing in providing supply chain management software tapping into i2’s technology and its base of more than 400 customers.
“With the close of the i2 acquisition, we’ve achieved an exciting milestone and an important and consistent next step in our strategy of becoming the foremost end-to-end supply chain solutions provider. JDA’s and i2’s combined resources, talent and track record create a platform for accelerated innovation, expanded service and support, and improved delivery of the results that matter most to our customers,” said JDA CEO Hamish Brewer.
Financial terms of the deal give i2 (Nasdaq:ITWO) shareholders $12.70 in cash and 0.2562 shares of JDA stock for each share of i2 they own, based on JDA’s closing price on Jan. 27. In addition, each i2 Series B preferred share will receive $1,102.
JDA put the deal together through a $275 million senior note offering along with cash on hand.
As part of the final deal, former i2 executives Aditya Srivastava and Kelly Thomas will join JDA. Srivastava will be a senior vice president and chief technology officer, and Thomas will be senior vice president of manufacturing.
In addition, JDA promoted Namita Dhallan to chief product officer and Salil Joshi to regional vice president of the company’s Center of Excellence in India.
JDA made a previous bid for i2 valued at $346 million. Although the new deal is set at $604 million, about two thirds of that price is for i2 stock and the rest to retire debt, according to previous reports about the acquisition.
With the purchase, JDA will have revenue of about $635 million.
JDA completes acquisition of i2
Send this story to a friend
Email address of friend (insert comma between multiple addresses): Your email address: Add a brief note:
Enter words from the security image above:
Get new image | Image verificationAudio verification | reCAPTCHA™
Related News
* JDA Software, i2 merger vote nears
* Federal regulators end waiting period for JDA Software, i2 Technologies merger
* JDA Software Group finishes buyout of i2 Technologies
* Slower software sales weigh on i2 earnings
* Canal Partners LLC buys stake in Limos.com
JDA Software Group Inc. has completed its $604 million acquisition of i2 Technologies Inc., cementing the deal on its second attempt.
The companies announced finalization of the deal Thursday. The cost represents a price of $19.79 per share of i2 stock.
The move strengthens Scottsdale-based JDA’s (Nasdaq:JDAS) standing in providing supply chain management software tapping into i2’s technology and its base of more than 400 customers.
“With the close of the i2 acquisition, we’ve achieved an exciting milestone and an important and consistent next step in our strategy of becoming the foremost end-to-end supply chain solutions provider. JDA’s and i2’s combined resources, talent and track record create a platform for accelerated innovation, expanded service and support, and improved delivery of the results that matter most to our customers,” said JDA CEO Hamish Brewer.
Financial terms of the deal give i2 (Nasdaq:ITWO) shareholders $12.70 in cash and 0.2562 shares of JDA stock for each share of i2 they own, based on JDA’s closing price on Jan. 27. In addition, each i2 Series B preferred share will receive $1,102.
JDA put the deal together through a $275 million senior note offering along with cash on hand.
As part of the final deal, former i2 executives Aditya Srivastava and Kelly Thomas will join JDA. Srivastava will be a senior vice president and chief technology officer, and Thomas will be senior vice president of manufacturing.
In addition, JDA promoted Namita Dhallan to chief product officer and Salil Joshi to regional vice president of the company’s Center of Excellence in India.
JDA made a previous bid for i2 valued at $346 million. Although the new deal is set at $604 million, about two thirds of that price is for i2 stock and the rest to retire debt, according to previous reports about the acquisition.
With the purchase, JDA will have revenue of about $635 million.