The anticipated union of supply chain software stalwarts i2 Technologies and JDA Software will not happen, i2 revealed today, as a moribund economy and difficult financing appear to have doomed JDA’s acquisition offer.
i2 said in a statement that it had initiated the termination, adding that “JDA has not provided consent to disclosure of any discussions between the parties.”
A JDA spokesperson said the two companies had engaged in discussions over the past month, but had not been able to come to terms.
Today’s announcement ends what began in August as an auspicious plan to bring together two of the last remaining standalone supply chain software vendors. At the time, JDA offered to buy i2 for $346 million. But in early November, as i2 shareholders prepared to meet for a vote on the acquisition, JDA pleaded for an adjournment, saying it was having difficulty securing the needed financing. JDA asked i2 officials to return to the bargaining table to negotiate a lower purchase price. Determined to press ahead, i2 held the meeting as planned on November 6, and i2 shareholdersoverwhelmingly accepted the then-tenuous $346 million offer.