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by Diane Himes, MA Editorial Staff
Posted on Tuesday, September 05, 2006 6:37:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Illinois Tool Works agrees to pay $292 million to buy Click commerce, a provider of supply chain management software, in bid to provide more value-added offerings to new and existing customers. |
| Keywords: | Click Commerce, Illinois Tool Works, on-demand supply chain software |
On-demand supply chain management software vendor Click Commerce Inc. today announced that it has reached an agreement to be acquired by an industrial component and system manufacturer, in a deal valued at approximately $292 million. Under the terms of the deal, Illinois Tool Works (ITW) will pay $22.75 per share for all of Click Commerce's common stock, a healthy premium over the company's closing price last Friday of $17.95 per share. Both companies' boards have approved the transaction, which is expected to close in the fourth quarter, pending majority shareholder and regulatory approval, according to a prepared statement. ITW has no plans to change or interfere with Click Commerce's current business, noted John Brooklier, ITW's vice president of investor relations, in an interview with Managing Automation. The $12.8 billion, publicly held company's goal is to "provide [Click Commerce] with the tools to evaluate, optimize, and grow," Brooklier said. [Click to continue] |
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