SEATTLE, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Corum Group announces that its client, Allocation Network GmbH, has been acquired by QAD Inc. Allocation Network is a best-in-class solution provider for strategic sourcing and supplier management, based in Munich, Germany.
“We really benefited from working with the Corum team on our M&A journey. Their knowledge of potential buyers and understanding of how to manage this global process with multiple interested parties led to an excellent outcome for Allocation Network’s shareholders,” said Bernhard Soltmann, Co-Founder & CEO of Allocation Network.
“The Allocation fit with QAD was excellent. Their supplier management and sourcing portfolio was really synergistic with QAD’s global manufacturing customers. QAD is an ideal partner that will allow Allocation Network to expand into the international market,” said Jon Scott, Managing Director of Corum.
The Allocation Network transaction with QAD is an example of a transaction that Corum completed entirely virtually due to the pandemic. From the initial buyer introduction through transaction negotiations, the entire acquisition was conducted virtually.
About Corum Group
Corum Group is the global leader in merger and acquisition services, specializing in serving sellers of software and related technology companies worldwide. With offices globally, Corum has completed over $10B in software M&A transactions over the last 36 years. Corum's M&A advisors are highly experienced former tech CEOs, supported by industry-leading researchers, writers and valuators. Corum is the leading tech M&A educator worldwide with its popular conferences and publishes the most widely distributed software M&A research. For more information, visit www.corumgroup.com.
About Allocation Network
Founded in 1998, Allocation Network is a best-of-breed solution provider for strategic sourcing and supplier quality management with approximately 50 employees. Allocation Network centralizes and organizes the entire procurement process of a product lifecycle using its Supplier Management, Sourcing, Auctions and Collaboration modules. The company’s integrated cloud-based solutions are sold to customers including BMW, Denso, MAGNA, Siemens, VOITH and Volkswagen. With a strong presence in the German automotive market, Allocation Network enhances QAD’s position in supporting the world’s fourth largest automotive marketplace. Visit www.allocation.net to learn more.
About QAD
QAD Inc. is a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies. Global manufacturers face ever-increasing disruption caused by technology-driven innovation and changing consumer preferences. In order to survive and thrive, manufacturers must be able to innovate and change business models at unprecedented rates of speed. QAD calls these companies Adaptive Manufacturing Enterprises. QAD solutions help customers in the automotive, life sciences, consumer products, food and beverage, high tech and industrial manufacturing industries rapidly adapt to change and innovate for competitive advantage. To learn more, visit www.qad.com.