E2open To Acquire Cloud Logistics Platform BluJay Solutions For $1.7B

E2open Parent Holdings Inc ETWO will acquire a cloud-based logistics execution platform, BluJay Solutions, for 72.4 million shares and $760 million cash aggregating to $1.7 billion.
BluJay shareholders will retain a 22% stake in E2openunder the arrangement.
Certain BluJay shareholders, Francisco Partners, and Temasek can appoint one director to the E2open board.
E2open has secured $300 million in private investment in public equity (PIPE) from institutional investors and a $380 million first-lien term loan to fund the arrangement.
The arrangement has the potential to deliver a more powerful supply chain software platform built upon the leading global trade network, BluJay Solutions CEO Andrew Kirkwood said.
E2open held $207.5 million in cash and equivalents as of Feb. 28, 2021.
Price action: ETWO shares traded higher by 1.12% at $13.15 on the last check Thursday.