nuBridges Completes Agreement to Acquire Technology Start-Up TradeTrans
Acquisition Supports nuBridges' Aggressive Growth Strategy and Furthers Its Stance as Secure eBusiness Visionary Leader
ATLANTA, Georgia -June 2nd, 2009
nuBridges, the secure eBusiness authority, announced today that it has completed a definitive agreement to acquire TradeTrans, Inc., a provider of real-time business intelligence tools that give visibility into the supply chain. The acquisition is part of nuBridges' strategic plan to build long-term business equity value by achieving substantial growth and market share, and by establishing itself as the benchmark leader in the industry.
nuBridges solutions make it safer and easier for large and medium-sized enterprises to exchange information internally and externally, and to protect that information wherever it rests in the data flow. With the acquisition of TradeTrans, nuBridges now delivers a new level of business intelligence to customers utilizing the nuBridges Exchange Network for electronically trading with their business partners. Today, nuBridges Exchange Network supports over 36,000 trading partner relationships.
"We've set a course for significant growth that we are fulfilling through both organic and non-organic acquisitions of best-in-class technologies, and market-share-builders that bring with them a customer base and revenue," said Paul Olson, nuBridges CEO and president. "Our acquisition of TradeTrans is a strong first step that adds value to our product portfolio and will benefit customers immediately."
As the B2B exchange network market continues to evolve, Olson contends that nuBridges has a prime opportunity to increase market share for its nuBridges Exchange Network through premier, differentiated services and features - something TradeTrans' web-enabled business intelligence tools provide.
"Well-established competitors in this market must continue to provide better quality and competitively priced offerings," he said. "Our plan is to exceed customer expectations and lead through innovation that will allow us to build mindshare and perform ahead of the current market rate. We expect to fulfill this plan through a number of strategic acquisitions during our three-year plan horizon."
With TradeTrans' TradeSmartTM business intelligence solution, nuBridges Exchange Network customers gain an advanced set of analysis tools that deliver extensive, operation-critical information on digital information transfers. TradeSmart monitors supply-chain transactions in real-time, tracking business activity and analyzing and reporting on data exchanges among suppliers and buyers as they happen. This enhanced capability:
Reduces complexity of the data exchange process, saving time and expense for customers.
Monitors and provides up-to-the-minute visibility into all electronic transactions - e.g., purchase orders, invoices, advance shipping notices.
Enables extensive analysis of customer and supplier relationships, with the ability to determine variables such as the value and frequency of purchase orders, average size of orders, and relationship profitability.
Delivers data that can help defend against charge-backs and other penalties related to inaccuracies and errors in supply chain fulfillment and delivery.
Is a subscription-based offering that is hosted by nuBridges and is easy for customers to purchase, implement and use.
Facilitates "dashboard-style" reporting with graphs and charts that quickly illuminate key performance indicators (KPIs) and business processes - without sapping IT resources.
TradeSmart is also designed to be deployed throughout the enterprise, enhancing the ability of non-technical users to access information in support of their roles across the supply chain.
"Over the last two years, we've developed and adapted the TradeSmart technology to address a broad array of customer requirements," said Bill Bugbee, founder and one of the major shareholders of TradeTrans. "Feedback from focus groups with nuBridges customers has been very positive, and we're excited about the opportunity to accelerate market penetration of these enhanced capabilities."
Bugbee will join nuBridges as Vice President of Product Management and lead the company's business intelligence solutions. The acquisition is an asset purchase comprising both cash and stock; other terms of the transaction were not disclosed. TradeTrans' Portland, Ore., offices will provide a West coast operational presence for nuBridges. Both nuBridges and TradeTrans are privately held companies.
TradeTrans provides "on-demand" business intelligence tools for B2B networks. Its TradeSmartTM web-based subscription services capture key performance indicators in real-time - derived from EDI and XML supply-chain transactions - and translate this business-vital information into operational reports and analysis as needed. TradeSmart is the most advanced supply-chain intelligence and decision tool available today, offering real-time visibility into business operations, trading activities and the marketplace. TradeSmart's information delivery options include Activity Reports, Event Alerts, Performance Analysis and Ad Hoc Inquiries.
nuBridges is a leading provider of software and services to protect sensitive data at rest and in transit, and to transfer data internally or externally with end-to-end security, control and visibility. nuBridges encryption, key management, managed file transfer and B2B integration solutions are used to comply with security mandates and to digitally integrate business processes among enterprises, systems, applications and people. Over 3,000 customers depend on nuBridges secure eBusiness solutions to encrypt millions of credit cards, exchange billions of dollars in B2B transactions and enable countless business-critical file transfers, including Walmart, Amazon.com, Timberland, American Eagle Outfitters, Belk, Bon Ton, Wachovia, Sun Trust, AIG, CheckFree and Verizon. nuBridges is headquartered in Atlanta, Georgia. More information is available at www.nubridges.com.