QADA - QAD acquires Allocation Network expanding capabilities in strategic sourcing and supplier management

QAD ([[QADA]] +2.5%) announces a definitive agreement to acquire Allocation Network GmbH, a solution provider for strategic sourcing and supplier management, based in Munich, Germany.This acquisition will support QAD’s cloud growth within its existing customer base and strengthen its overall product offering. QAD to fully incorporate Allocation Network’s sourcing, supplier management and procurement systems into its Integrated Supplier Management portfolio to allow customers to eliminate off-contract buying, increase purchasing power and boost cost savings.Expected to close by the end of 2020 and will not have an immediate, material impact on QAD’s financial results.

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QAD acquires Allocation Network, expanding capabilities in strategic sourcing and supplier management