QADA - QAD acquires Foreign-Trade Zone enhancing its inventory and supply chain agility

QAD ([[QADA]] +1.4%) announces acquisition of Foreign-Trade Zone Corporation, a leading provider of cloud-based Foreign-Trade Zone (‘FTZ’) software and consulting services based in Mobile, Alabama.QAD to integrate FTZ Corp. into QAD Precision, company’s global trade and transportation division; and expects the transaction to expand QAD’s addressable market, drive additional cloud growth within its existing customer base, and strengthen its trade and transportation solutionsTransaction is not expected to have an immediate, material impact on QAD’s financial results.“The FTZ Corp. team adds considerable breadth and depth of expertise, with leaders who pioneered innovative enhancements and are well known by U.S. Customs having drafted language for the Trade Development Act of 2000. Simplifying duty management while improving transportation execution and trade compliance is a unique differentiator for us,” commented Corey Rhodes, President of QAD Precision.

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QAD acquires Foreign-Trade Zone, enhancing its inventory and supply chain agility