Combination brings complementary cloud-based solution and global multi-carrier e-commerce capabilities to e2open’s networked, end-to-end supply chain operating platform
AUSTIN, Texas – March 3, 2022 – E2open Parent Holdings, Inc. (NYSE: ETWO), a leading network-based provider of a cloud-based, mission-critical, end-to-end supply chain management platform, has acquired Logistyx Technologies, a leader in global parcel and e-commerce shipping and fulfillment technology.
With the combination, e2open enhances its global footprint for multi-carrier e-commerce shipment management, offering companies a complete range of shipping capabilities needed to scale and respond to growing market needs.
“We are excited to welcome Logistyx Technologies’ team, clients, and capabilities to e2open,” said Michael Farlekas, chief executive officer at e2open. “The demand for e-commerce shipping capabilities continues to grow as companies look for more flexible and cost-effective ways to deliver products to consumers. This combination makes e2open the most comprehensive and integrated shipping solution provider, which covers all shipping modes including ocean, air, road, rail, and parcel, and is powered by a global network of carriers and logistics service providers. Logistyx is complementary to e2open’s existing platform, enabling e2open’s world-class clients to orchestrate their supply chains from demand to fulfilment, to supply.”
“The Logistyx team is thrilled to combine with e2open to enable more companies to ship smarter and benefit from the largest supply chain platform and network available,” said Geoffrey Finlay, chief executive officer at Logistyx. “We provide our customers, which include top retailers, manufacturers and logistics providers, the automation, visibility and flexibility needed to simplify global fulfillment and compete in an omnichannel world – all within a one-stop, connected platform.”
Compelling strategic benefits to accelerate growth
The Logistyx combination with e2open accelerates subscription revenue growth and unlocks strategic benefits for clients, including:
- Increased reach as a global leader in transportation management for parcel shipping: Logistyx’s global parcel system augments e2open’s direct-to-consumer e-commerce offerings, creating a complete global footprint for multi-carrier parcel management.
- Enhanced global parcel carrier network: The combination adds a carrier library of over 550 global carrier integrations including UPS, FedEx, DHL and USPS, to e2open’s leading network. The solution manages the carrier certification process to keep clients in compliance, while making it easier to compare and review spot rate options, which is critical in a capacity-constrained environment.
- Expanded client base: e2open’s client base will be enhanced by Logistyx’s strong global enterprise clients, which include many of the world’s leading retailers, manufacturers, and carriers.
- Augmented product offerings: Logistyx’s clients will benefit from a combined portfolio that will not only expand shipping modes beyond parcel, but also enhance upstream capabilities to better orchestrate manufacturing, distribution, channel and trade operations.
Transaktionsdetails
E2open acquired Logistyx Technologies for a total purchase price of $185 million, including $90 million paid in cash at closing and the remaining balance to be paid in two additional installments at 90 days and 180 days post-closing. e2open has the option to finance the remaining payments through cash or a combination of cash and e2open stock issued to sellers, at the company’s discretion.
The transaction was unanimously approved by e2open’s Board of Directors. Additional details about the agreement will be contained in a Current Report on a Form 8-K to be filed by e2open with the U.S. Securities and Exchange Commission (the “SEC”). For other related investor relations disclosures and presentation materials, please visit the investor relations section at www.e2open.com.
Financial Highlights
In calendar year 2021, Logistyx grew in line with e2open’s current growth rate and achieved approximately $40 million in revenue. The combined business is expected to be accretive to e2open’s current organic growth rate given the cross-selling opportunities the combination creates.
The combination reflects a purchase price of approximately 11 times adjusted EBITDA when anticipated cost synergies are fully realized, which are expected to be within 18 months of closing. e2open will include the full impact of the acquisition on revenue and adjusted EBITDA in conjunction with fiscal 2023 guidance, which will be provided with the fourth quarter earnings release scheduled for late April.
Berenson is serving as exclusive financial advisor to e2open, and Troutman Pepper is serving as legal advisor to e2open.
Über e2open
E2open is the connected supply chain software platform that enables the world’s largest companies to transform the way they make, move, and sell goods and services. With the broadest cloud-native global platform purpose-built for modern supply chains, e2open connects more than 400,000 manufacturing, logistics, channel, and distribution partners as one multi-enterprise network tracking over 12 billion transactions annually. Our SaaS platform anticipates disruptions and opportunities to help companies improve efficiency, reduce waste, and operate sustainably. Moving as one.™ Learn more: www.e2open.com.
E2open and the e2open logo are registered trademarks of E2open, LLC. All other trademarks, registered trademarks and service marks are the property of their respective owners. © E2open, LLC. All rights reserved.
About Logistyx Technologies
Logistyx Technologies connects top retailers, manufacturers, and logistics providers to more than 550 in-network carriers with strategic parcel shipping and omnichannel fulfilment technology. With Logistyx, shippers can rapidly realize fulfilment cost savings, gain end-to-end visibility for all shipments, receive proactive alerts for delivery delays, and leverage unparalleled insights and scenario forecasting to optimize transportation strategies. As businesses increasingly embrace omnichannel retail, Logistyx expands delivery options and provides business intelligence to improve the delivery experience and drive loyalty through customer satisfaction. Headquartered in Chicago, Logistyx Technologies has international operations in Canada, U.K., the Netherlands, and Singapore. For more information, visit www.Logistyx.com.
Non-GAAP-Finanzkennzahlen
This press release includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”), including adjusted EBITDA. These non-GAAP financial measures are not a measure of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity, or performance under GAAP. You should be aware that the Company’s presentation of these measures may not be comparable to similarly titled measures used by other companies.
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Contacts:
Investor Contact:
Adam Rogers
Sr. Director of Investor Relations, e2open
515-556-1162
Media Contact:
5W PR for e2open
718-757-6144
Corporate Contact:
Kristin Seigworth
VP Communications, e2open
