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CDC Software agrees to acquire WKD Solutions
By siliconindia
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Wednesday, 18 February 2009, 23:02 IST
Bangalore: CDC Software, a wholly-owned subsidiary of CDC Corporation and a provider of industry-specific enterprise software applications and business services, has signed a binding term sheet to acquire WKD Solutions, a provider of supply chain event management and business activity monitoring (BAM) solutions that helps enterprises improve their supply chain visibility and support their governance, risk and compliance requirements.
Privately-held WKD Solutions based in U.K., markets its products under the Categoric Software brand. This acquisition is subject to several standard closing conditions including the receipt of approval from the Board of Directors of CDC Software and the satisfactory completion of due diligence by CDC Software. Under an OEM agreement, Categoric's supply chain event management technology has been used in CDC Software's Catalyst product line for several years.
Once the acquisition is completed, Categoric's solutions, including real time alerting, process automation, corrective action tracking, and key performance indicator (KPI) dashboards, are expected to be integrated into the CDC Supply Chain solutions.
"We are excited to be pursuing this acquisition since we took a break to concentrate on integrating our prior acquisitions and rightsizing our platform," said Peter Yip, CEO, CDC Software. "We believe now is the time to return to our prior 'focus, acquire and grow strategy' through mergers and acquisitions that help expand the breadth of our enterprise applications and fill the technology opportunities in our product roadmap," he added.