RedPrairie Corporation, a global leader in supply chain technology solutions that enable business process transformation, announced today that Francisco Partners, one of the world's largest technology-focused private equity funds, has closed its merger transaction to acquire RedPrairie. The transaction will enable RedPrairie to accelerate its already rapid growth rate while enhancing its strong focus on customer results.
According to RedPrairie Company Leader John Jazwiec, "RedPrairie has consistently grown 30 percent each year for the last three years, well ahead of our industry. However, we had reached an inflection point that required enhanced funding options. This transaction will strengthen RedPrairie's ability to leverage its leadership position and signifies a further step in our growth strategy."
"By joining with Francisco Partners," adds Jazwiec, "we can continue to put the long-term interests of our customers, partners, shareholders and employees foremost in our sights. This provides RedPrairie the resources and flexibility to quickly respond to investment opportunities, customer requirements and market forces."
Comments David Golob, general partner of Francisco Partners, "We look for companies like RedPrairie that are poised to break out from the competition through superior technology and service, and those backed by strong management teams focused on the needs of the markets they serve. We believe RedPrairie is best positioned in its industry to address market opportunities and leverage its unparalleled customer base for long-term value creation. Francisco Partners is excited to provide resources to enable their accelerated growth and we look forward to working with their experienced and forward-thinking management team."
Says Jazwiec, "This merger is in the best interest of our customers, partners and employees. Our partners and customers will continue to benefit from our strong working relationships, seasoned management team and leading-edge technologies. Our employees will continue to experience the security of working within a stable and growing enterprise and the opportunities associated with our unique RedPrairie culture. And RedPrairie will be able to take the next logical step in fulfilment of the
strategic vision we have established."
Comments Greg Aimi, Research Director at AMR Research, "This acquisition reduces risk for RedPrairie customers. We expect that RedPrairie and Francisco Partners will pursue an aggressive growth strategy. Customers and prospects should expect the following: global expansion, innovation and potential acquisitions. No matter what, we expect that the customers should finish ahead."1
1. Aimi, Greg. AMR Research Report: AMR Research, April 2005.