Activant Solutions Inc. has signed a definitive asset purchase agreement with Intuit Inc. to acquire the Intuit Eclipse™ Distribution Management Solutions business.
Under the terms of the agreement, Activant, a leading
provider of vertical business management solutions, will pay Intuit
approximately $100 million in cash, subject to certain adjustments, to purchase
the Intuit Eclipse business. The agreement, signed July 2, is subject to
customary closing conditions and is expected to close in August 2007.
Activant, a technology provider of vertical business
management solutions, has identified the wholesale distribution industry as a vertical
segment for the company’s growth and expansion. The acquisition of the Intuit
Eclipse business will augment its customer base and expand its technology
offerings in the wholesale distribution segment.
Intuit Eclipse is a leading provider of business management
solutions for wholesale distributors in segments ranging from electrical,
plumbing, HVAC and building materials to industrial, janitorial and other
durable goods supplies.
Both Activant and Intuit Eclipse have deep knowledge
and key partnerships in the wholesale distribution segment. The combined
organizations will provide customers with an expanded portfolio offering and continued
July 10, 2007 - Activant Solutions To Buy Intuit Eclipse™ Distribution Management Solutions
July 10, 2007