Expanding its supply chain execution software portfolio, HighJump Software today disclosed that it has acquired Pinnacle Distribution Concepts Inc., a provider of on-demand, Web-based transportation management software (TMS) and services. Terms of the cash deal were not disclosed.
By acquiring Pinnacle, HighJump vaults into contention in the highly fragmented TMS market, a segment whose stature has soared with the escalating importance of global supply chains and skyrocketing energy costs. The deal is HighJump's first acquisition since it itself was purchased by 3M Co. two years ago, and represents HighJump's entry into the on-demand software space, according to Paul Steen, the Eden Prairie, MN, company's vice president of marketing and alliances.
In an interview, Steen said HighJump was attracted to the Knoxville, TN, company's heritage in transportation management software and experience with on-demand application services delivery (Pinnacle operates its own Tier-1 hosting center), where it already serves a wide swath of large and mid-size manufacturers such as Becton Dickinson, Avery Dennison, Yamaha Motor, General Electric, Schneider of Hanover, and Belden Wire & Cable. "There are plenty of places we could have looked for on-demand [TMS]," Steen said, but "the fact that Pinnacle has well over 150 sites [using the software] was a real attractive quality."
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