Global trade management software vendor Amber Road has rejected an acquisition bid from rival software company E2open.
The “unsolicited” offer from E2open, which specialises in cloud supply chain management software, and Insight Venture Partners, proposed acquiring all of the issued and outstanding shares of capital stock of Amber Road that it does not already own for $10.50 per share.
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However, Amber Road’s board of directors “has unanimously concluded that it is not in the best interest of the company’s stockholders to pursue E2open’s proposed business combination, whereby Amber Road would cease to operate as a publicly traded company.”
“We continue to firmly believe that executing our existing strategic plan is the best means of maximising value for our stockholders and satisfaction for our customers over the long term,” said chairman Barry Williams.
Amber Road’s cloud-based software creates a digital model of the global supply chain that enables collaboration between buyers, sellers and logistics companies on trade activities, including sourcing, supplier management, production tracking, transportation management, supply chain visibility, import and export compliance, and duty management.
E2open had argued that joining its manufacturing and distribution network with Amber Road’s global trade network would allow customers to operate their end-to-end supply chain from one place in the cloud.
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