This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Paragon Technologies Acquires Innovative Automation

EASTON, Pa., April 18, 2013 /PRNewswire/ -- SI Systems, Inc., a material handling systems solutions provider and a wholly owned subsidiary of Paragon Technologies, Inc. (OTC Pink: PGNT), is pleased to announce that it has acquired Innovative Automation Inc. ("IA"), a leading provider of warehouse control systems (WCS) and warehouse management systems (WMS) solutions, based in San Diego, California.  The acquisition of IA represents a strategic shift for SI Systems as it begins to transition its market strategy to the growing markets for enhanced distribution and order fulfillment solutions.

IA brings the expertise and discipline around a "true versioned product approach" in the WCS and WMS marketplace.  The IA WCS and WMS products bring a unique approach and solution to the material handling software market.  "A truly versioned software product such as this fits well with the SI Systems model and strategy of focusing on distribution through regional integrators," stated Larry Strayhorn, President and CEO of Paragon.  "This will enable SI Systems to expand its Order Fulfillment technology suite and offering to a growing market segment."

"The acquisition of IA represents Paragon's commitment to reestablishing SI Systems' presence in one of the most attractive segments in the material handling industry, one of our goals since we assumed control of the Company," stated Sham Gad, Chairman of Paragon.  "The upfront cash outlay will be funded by working capital and paid out as installments, with the remainder of the cash consideration to come in the form of royalties on future sales and margin targets."

"Everyone wins from this deal," added Mr. Gad.  "SI Systems gets a dynamic product to enhance its services to its customers, IA gets the added technical, marketing, and sales capabilities of SI Systems, and the earn-out structure ensures that Paragon will grow for our shareholders along with future payments.  I commend the efforts of our executives and directors in this process."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.58 -1.30%
FB $116.16 -0.49%
GOOG $692.01 0.14%
TSLA $239.18 -3.40%
YHOO $36.33 -0.71%


Chart of I:DJI
DOW 17,716.81 -113.95 -0.64%
S&P 500 2,057.50 -18.31 -0.88%
NASDAQ 4,759.5450 -45.7460 -0.95%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs