Digital supply chain company Amber Road to be acquired by rival E2open in $425 million deal
Amber Road Inc (NYSE:AMBR) stock soared Monday after the digital supply chain company reached a deal to be acquired by competitor E2open.
The all-cash $425 million deal is worth $13.05 per share, a 26% premium over its Friday close.
Shares jumped nearly 26% to $12.97 in pre-market trading Monday.
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The move combines Amber’s Road’s cloud-based global trade management platform with E2open’s trading portfolio. The platform is fueled by Global Knowledge, a database of trade rules and regulations in 170 countries.
“The combination of E2open’s supply chain and logistics technologies with Amber Road’s global trade management platform will also allow customers to more fully digitize their operations and better compete in global markets,” CEO James Preuninger said.
Amber Road helps companies around the world maximize the value of their supply chains with its trade management software.
Upon completion of the deal, the company will become privately held.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/220148/digital-supply-chain-company-amber-road-to-be-acquired-by-rival-e2open-in-425-million-deal-220148.html
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