Supply chain management company E2open acquired US-based business planning software provider Steelwedge yesterday in an all-share deal that gave property developer JF Shea an exit.
Founded in 2000, Steelwedge has built a software platform that combines elements including product, sales, supply and demand, strategy, operations and finances in a single place, enabling businesses to put together plans spanning multiple markets.
E2Open provides software that helps companies operate their supply chain networks, giving them detailed data and insights and allowing them to organise their supply chains in real time.
The company claimed the deal makes it the “largest purely cloud-based supply chain software company in the world”.
Michael Farlekas, E2open’s CEO, said: “E2open’s goal is to be the one place, in the cloud, for companies to operate their supply chains in real time. Adding [sales and operations planning] capabilities increases the breadth of solutions we can offer to our customers, and multiplies the value we deliver.”
JF Shea took part in a $22.5m growth equity round for Steelwedge in early 2015 through its corporate venturing unit, Shea Ventures, investing alongside private equity firm Camden Partners, growth equity firm Mainsail Partners and company CEO Pervinder Johar.
The company raised $13.2m in funding from investors including Jafco Ventures, Sigma Partners, Globespan Capital Partners and Omnia Ventures across three rounds between 2002 and 2006, according to regulatory filings, before Mainsail led a $16m round in 2011.