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QAD Inc. stockholders have approved the acquisition by Thoma Bravo, a leading software investment firm, during a special meeting. Stockholders will receive $87.50 per share for their Class A or Class B Common Stock. CEO Anton Chilton expressed satisfaction with the outcome, indicating readiness to accelerate QAD’s vision as a private entity. The merger's completion is anticipated soon, subject to customary closing conditions, after which QAD’s stock will be delisted from Nasdaq.
QAD Inc. has announced significant enhancements to its QAD Adaptive ERP and QAD Adaptive Applications portfolio. Key additions include QAD Sourcing and Supplier Relationship Management (SRM), aimed at aiding manufacturers in improving supplier communication and automating procurement processes. These updates are vital for manufacturers dealing with disruptions like the COVID-19 pandemic. The new solutions promise to enhance supply chain performance and reduce procurement risks, ultimately fostering business agility.
QAD Precision, a leader in global trade logistics, will exhibit at the 2021 PARCEL Forum in Washington, D.C., from September 14-16. President Corey Rhodes will present on the advantages of cloud-based parcel shipping. The company offers a comprehensive, multilingual, multi-carrier shipping solution with global visibility. Rhodes' session, “Why Cloud, Why Now,” on September 15, will cover cloud benefits and strategic parcel shipping. Attendees are invited to booth 206 for insights on optimizing global trade and logistics.
QAD DynaSys has been selected by SBM Life Science to implement its cloud-based Demand Planning and Advanced Analytics solutions. SBM aims to enhance sales forecasting and inventory management, catering to both online and in-store consumer needs. The decision is driven by a desire for continuous improvement, leveraging QAD DynaSys' extensive capabilities and ease of use. The first rollout is set for France in 2021, with plans to expand across Europe and the U.S. QAD DynaSys emphasizes that its solutions will significantly support SBM's supply chain digital transformation.
QAD DynaSys announces its partnership with Sinclair Pharma, a subsidiary of Huadong Medicine, to implement its Digital Supply Chain Planning (DSCP) solution. This solution aims to enhance forecast accuracy and customer service levels while improving profitability through better inventory management. Sinclair Pharma cited the need for a more scalable system due to its rapid growth. Key benefits include reduced administrative costs, enhanced decision-making capabilities, and improved long-term business planning.
QAD DynaSys has secured a contract with Huhtamaki Flexible Packaging Europe, enhancing their digital supply chain capabilities. The solution includes demand and production planning to streamline Sales & Operations Planning (S&OP) and boost supply chain visibility. Huhtamaki aims for carbon-neutral production and has committed to making all products recyclable, compostable, or reusable by 2030. This collaboration is expected to improve demand forecast accuracy and optimize supply planning, contributing to Huhtamaki's strategic sustainability goals.
QAD Inc. (Nasdaq: QADA, QADB) announced that Automotive Director Terry Onica has been inducted into the 2021 Women in Manufacturing Hall of Fame. This honor recognizes her significant contributions to advancing women in manufacturing. The Hall of Fame was established by the Women in Manufacturing Association in 2019 to honor women who have made exceptional contributions to the industry. Onica and other inductees will be celebrated at an induction ceremony on October 6, 2021, during WiM’s 11th annual SUMMIT event in Cleveland, OH.
QAD Precision, a division of QAD Inc. (NASDAQ: QADA, QADB), will present its multi-carrier shipping solutions at the NAEP District VI Conference from August 29 to September 1, 2021, in Westminster, CO. The company aims to demonstrate how its solutions can assist universities in centralizing shipping processes, controlling costs, and ensuring compliance. QAD Precision's representatives, Chris Shea and Jeff Flanagan, will engage with attendees to illustrate potential cost savings and risk mitigation strategies for sending sensitive research internationally.
QAD Inc. (Nasdaq: QADA, QADB) reported Q2 fiscal 2022 revenues of $84.8 million, up from $74.1 million year-on-year, primarily driven by a 24% increase in subscription revenue, which totaled $38.4 million. The company anticipates a net loss of $6.3 million, or ($0.31) per Class A share and ($0.26) per Class B share. QAD is set to be acquired by Thoma Bravo for $2 billion, at $87.50 per share, prompting the withdrawal of future financial guidance. Despite the operating loss of $5.8 million, excluding acquisition-related costs, operating income would have been $1.8 million.
QAD Precision, a division of QAD Inc. (NASDAQ: QADA, QADB), will participate in the E-Commerce Operations Summit on August 17-18, 2021, in Nashville, Tennessee. President Corey Rhodes highlighted the surge in e-commerce demands, necessitating scalable solutions for shipping. The company's multi-carrier and multi-modal global transportation solutions aim to optimize shipping for e-commerce vendors. Attendees can visit QAD Precision at booth 403 to explore their offerings in response to rising shipping costs and challenges facing shippers today.
