Freeway
Freeway Commerce, the fastest growing provider of electronic trading systems in the UK, has been sold in a multi-million cross-border deal to US software giant, Inovis Inc.
With blue-chip companies including Tesco, Argos, Iceland and Boots, Freeway supplies electronic data interchange (EDI) systems which allow companies to trade electronically with both suppliers and customer. Their products offer customers large and small the opportunity to implement a cost-effective EDI solution and one which can link with their existing systems including enterprise resource planning and back office systems. The company has been expanding rapidly with double digit sales growth over the past few years.
Inovis, which is based in Atlanta and has a UK office in Guildford, is one of the world’s largest providers of business to business IT solutions, delivering products and services to over 20,000 customers worldwide.
Clearwater advised the shareholders on the sale of the business, generating a deal framework which enabled the shareholders to receive a higher than expected value from a key strategic buyer.
The acquisition will provide Inovis with additional support and services in the UK and help it to accelerate its expansion in Europe. Meanwhile Freeway customers will benefit from Inovis’ software platforms that allow companies to achieve better lines of communication with their business partners.
Commenting on the deal, major shareholder Godfrey Adams said:
“I was very pleased we selected Clearwater to handle our company sale. Throughout the whole process there was clear ownership with single points of contact through either Carl Houghton or Dan Bowtell. All relevant members of the team were easily accessible over the whole period of time which meant we were kept fully in the picture as events unfolded and just as importantly continuously given key advice. Clearwater at all times made us feel we were a client that mattered and they understood our needs.”
With blue-chip companies including Tesco, Argos, Iceland and Boots, Freeway supplies electronic data interchange (EDI) systems which allow companies to trade electronically with both suppliers and customer. Their products offer customers large and small the opportunity to implement a cost-effective EDI solution and one which can link with their existing systems including enterprise resource planning and back office systems. The company has been expanding rapidly with double digit sales growth over the past few years.
Inovis, which is based in Atlanta and has a UK office in Guildford, is one of the world’s largest providers of business to business IT solutions, delivering products and services to over 20,000 customers worldwide.
Clearwater advised the shareholders on the sale of the business, generating a deal framework which enabled the shareholders to receive a higher than expected value from a key strategic buyer.
The acquisition will provide Inovis with additional support and services in the UK and help it to accelerate its expansion in Europe. Meanwhile Freeway customers will benefit from Inovis’ software platforms that allow companies to achieve better lines of communication with their business partners.
Commenting on the deal, major shareholder Godfrey Adams said:
“I was very pleased we selected Clearwater to handle our company sale. Throughout the whole process there was clear ownership with single points of contact through either Carl Houghton or Dan Bowtell. All relevant members of the team were easily accessible over the whole period of time which meant we were kept fully in the picture as events unfolded and just as importantly continuously given key advice. Clearwater at all times made us feel we were a client that mattered and they understood our needs.”
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