QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB), a leading provider of enterprise software and services for global manufacturing companies, today said it has acquired Michigan-based CEBOS, Ltd., a leading provider of enterprise-class quality management and regulatory compliance solutions to global companies. QAD paid $5.0 million in cash, $3.5 million upon closing, and $1.5 million to be paid over the next two years subject to an earn-out.
CEBOS generated revenues of approximately $4.5 million in 2012 and has 33 employees. QAD plans to build on CEBOS’ existing markets and further expand the penetration of CEBOS’ solutions into QAD’s global customers. CEBOS will operate as a division of QAD, similar to its Precision and DynaSys divisions. QAD has no formal update to its prior Q4 FY13 financial guidance.
“We are pleased to welcome CEBOS into the QAD organization and are excited to enhance our quality management functionality with a proven best-in-class solution for our key vertical markets,” said QAD Chairman and President, Pamela Lopker. “The in-depth knowledge and technical expertise within CEBOS will greatly enhance our offerings in the field of quality management.”
Bob Herdoiza, CEO of CEBOS, will lead QAD’s CEBOS Division. “We are very excited to be joining QAD and serve new customers in global markets, as well as continue to serve our existing loyal customer base,” Herdoiza said. “We feel that our expertise combined with QAD’s commitment and global reach will allow us to reach new potential with the CEBOS MQ1 family of products.”Founded in 1995, CEBOS provides a suite of enterprise-wide quality management and management system standard solutions. CEBOS’ customers are primarily in the U.S., with some penetration of the European and Asia Pacific markets. CEBOS’ customers operate in various industries including manufacturing and financial services. Manufacturing customers are primarily in the life sciences, automotive, and food and beverage verticals.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts