American Software, Inc. Announces Agreement to Divest of Transportation Rating Solutions

Rhea-AI Summary

American Software, Inc. (NASDAQ: AMSWA) announced the divestment of its Transportation Rating Solutions (‘TRS') business to focus on their core supply chain planning business. Logility, Inc., the operating entity of American Software, will continue to expand their AI-first supply chain management platform, leveraging Generative AI, advanced AI-driven algorithms, machine learning, and predictive analytics. The divestment aligns with American Software’s commitment to AI-first supply chain technology solutions and reflects the significant transformation in supply chain planning driven by technology advancements, workforce shifts, and market changes.

Divestment aligns with American Software’s commitment to AI-first supply chain technology solutions

ATLANTA--(BUSINESS WIRE)-- American Software, Inc. (NASDAQ: AMSWA), a leading provider of innovative AI-powered supply chain management and advanced retail planning platforms, announced today that its wholly-owned subsidiary, Logility, Inc., signed an agreement for the sale of its Transportation Rating Solutions (‘TRS') business which consists of on-premise freight shipping solutions for LTL, truckload, and rail shipments within North America to FOG Software Group (‘FOG’), a division of Vela Software.

American Software is divesting TRS to focus on their core supply chain planning business allowing Logility, the operating entity of American Software, to continue to expand their AI-first supply chain management platform. Designed for speed and agility, Logility’s SaaS cloud-based platform provides a unique blend of Generative AI, advanced AI-driven algorithms, machine learning, and predictive analytics to help deliver integrated planning and operations across the end-to-end supply chain.

“Supply chain planning is entering a significant transformation with advancements in technology, generational shifts of the workforce, and the significant speed of market changes and disruptions,” said Allan Dow, CEO American Software. "This divestment optimally positions us to concentrate on delivering modern, breakthrough technology to the supply chain industry.”

About American Software

Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through its operating entity Logility, delivers prescriptive demand, inventory, manufacturing, and supply planning tools – helping to provide executives the confidence and control to increase margins and service levels, while delivering sustainable supply chains.

Serving clients such as Big Lots, Carter’s, Destination XL, Hostess, Husqvarna Group, Jockey International, Johnson Controls, Parker Hannifin, Red Wing Shoe Company, Spanx, Dole Fresh Vegetables, Inc., and Fender Musical Instrument Co, our solutions are marketed and sold through a direct sales team as well as an independent global value-added reseller distribution network.

Logility is the only supply chain planning platform leveraging Generative AI, advanced AI-driven algorithms, and machine learning. Our engineered approach drives team alignment for over 800 customers in 80 countries with prioritized, value-focused outcomes. For more information about Logility, please visit www.logility.com. Logility is a wholly-owned subsidiary and operating entity of American Software, Inc. You can learn more about American Software at www.amsoftware.com or by calling (404) 364-7615 or email kliu@amsoftware.ocom.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to substantial risks and uncertainties. References below to the ‘Company’ means American Software, Inc. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or clients; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; American Software, Inc.’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email kliu@amsoftware.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116380827/en/

Kevin Liu

kliu@amsoftware.com

(626) 424-1535

Source: American Software, Inc.

FAQ

What is American Software, Inc. (NASDAQ: AMSWA) divesting?

American Software, Inc. (NASDAQ: AMSWA) is divesting its Transportation Rating Solutions (‘TRS') business.

Who is acquiring the TRS business?

FOG Software Group (‘FOG’), a division of Vela Software, is acquiring the TRS business.

What technology is Logility, Inc. leveraging for their supply chain management platform?

Logility, Inc. is leveraging Generative AI, advanced AI-driven algorithms, machine learning, and predictive analytics for their AI-first supply chain management platform.

Why is American Software divesting the TRS business?

American Software is divesting the TRS business to focus on their core supply chain planning business and deliver modern, breakthrough technology to the supply chain industry.