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Manhattan Associates Plans Buy

The company will acquire Evant in a $50 million deal.
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Manhattan Associates

(MANH) - Get Manhattan Associates, Inc. Report

plans to acquire Evant, a privately held provider of supply chain software, in a $50 million deal the buyer said will extend its "solution footprint beyond its current supply chain execution leadership position."

Evant, with offices in San Francisco and Atlanta, provides software to more than 60 companies in the retail, manufacturing and wholesale distribution industries.

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Manhattan, which is based in Atlanta, said the purchase will cut adjusted earnings by about 2 cents a share in the fourth quarter. For 2006, the deal should add about 3 cents to adjusted EPS.

Shares of Manhattan, a seller of warehouse, transportation and order management software, were down 17 cents to $21.03.