LIVERMORE, Calif., and MOUNTAIN VIEW, Calif. - Activant Solutions Inc. has signed a definitive asset purchase agreement with Intuit Inc. to acquire the Intuit Eclipse™ Distribution Management Solutions business.
Under the terms of the agreement, Activant, a leading provider of vertical business management solutions, will pay Intuit approximately $100 million in cash, subject to certain adjustments, to purchase the Intuit Eclipse business. The agreement is subject to customary closing conditions and is expected to close in August 2007.
Activant has identified the wholesale distribution industry as a key vertical segment for the company's growth and expansion. Intuit Eclipse is a leading provider of business management solutions for wholesale distributors in segments including HVAC, plumbing, and others.
"The acquisition of Intuit Eclipse is an important step in Activant's vision to be a leader in vertical business management software solutions," said Pervez Qureshi, president and chief executive officer of Activant Solutions. "Intuit Eclipse has built a loyal customer base with a strong product offering that will complement Activant's technologies, and give customers a broader set of solutions to grow their businesses and better serve their customers."
For more information, visit www.activant.com.
July 18, 2007: Activant to Buy Intuit's Distribution Management Solutions Business
July 18, 2007