Acquisition Adds Cloud-Based Manufacturing and Supply Chain Work Management to Upland's Product Family
AUSTIN, Texas, Nov. 16, 2015 /PRNewswire/ -- Upland Software, Inc. UPLD, a leader in cloud-based Enterprise Work Management applications, today announced the acquisition of Ultriva, a cloud-based manufacturing and supply chain work management software provider. Ultriva offers a suite of cloud-based applications that allows manufacturing companies to collaborate with their customers, plants, and suppliers to streamline and optimize material flows. Customers include industrial, automotive, healthcare, and aerospace organizations seeking to optimize their supply chain.
With the acquisition of Ultriva, Upland's ninth in four years, Upland broadens its Enterprise Work Management offerings by adding a suite of cloud-based supply chain work management applications. Ultriva Lean Suite is a single source for supply chain communication, providing a basis for multi-enterprise, multi-tier, end-to-end supply chain collaboration. It includes four modules: Collaborative Supply Portal, Lean Factory Management, Collaborative Demand Portal, and the Inventory Optimization Tool. Ultriva Lean Suite can be deployed individually or as a fully integrated solution that provides end-to-end supply chain visibility, collaboration, and execution tools.
"We are pleased to welcome Ultriva to the Upland family of products," said Jack McDonald, chairman and CEO of Upland Software. "Ultriva adds an exceptional built-for-purpose suite of products to our family of cloud-based Enterprise Work Management applications and represents the latest step in our commitment as a global leader in this category."
"This is a very important milestone for our product and technology vision," said Narayan Laksham, founder and CEO of Ultriva. "In combining Upland's enterprise level capabilities and the passion for customer experience that both companies share, we see significant value in this acquisition for our customers, prospects, and team members."
Catapult Advisors LLC advised Upland Software on the transaction. Corum Group Ltd advised Ultriva on the transaction.
About Upland Software
Upland Software UPLD is a leading provider of cloud-based Enterprise Work Management software. Our family of applications connects people through technology, automates the flow of work and brings visibility to all aspects of organizations. With more than 1,600 customers and over 225,000 users around the world at the beginning of 2015, Upland Software solutions help teams in IT, marketing, finance, professional services, manufacturing, and process excellence run their operations smoothly, adapt to change quickly, and achieve better results every day. To learn more, visit www.uplandsoftware.com.
Ultriva's cloud-based platform seamlessly integrates with leading ERP and MRP systems, to deliver an end-to-end pull-based replenishment solution. Based in Cupertino, CA, Ultriva implements a global demand-driven manufacturing model by providing full visibility, scheduling, and production sequencing of customer orders. Ultriva was named one of the Great Supply Chain Projects of 2014 by Supply & Demand Chain Executive magazine and its blog was recently named one of 50 Best Supply Chain Blogs of 2014 by SupplyChainOpz. To learn more, visit www.ultriva.com.
This press release contains forward-looking statements which are subject to substantial risks, uncertainties and assumptions. Accordingly, you should not place undue reliance on these forward-looking statements. Forward-looking statements include any statement that does not directly relate to any historical or current fact and often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our financial performance and our ability to achieve, sustain or increase profitability or predict financial results; our ability to attract and retain customers; our ability to deliver high-quality customer service; lack of demand growth for Enterprise Work Management applications; our ability to effectively manage our growth; our ability to consummate and integrate acquisitions and mergers; maintaining our senior management and key personnel; our ability to maintain and expand our direct sales organization; the performance of our resellers; our ability to adapt to changing market conditions and competition; our ability to successfully enter new markets and manage our international expansion; fluctuations in currency exchange rates; the operation and reliability of our third-party data centers and other service providers; and factors that could affect our business and financial results identified in Upland's filings with the Securities and Exchange Commission (the "SEC"), including Upland's most recent 10-K, filed with the SEC on March 31, 2015, and our recent Quarterly Report on Form 10-Q filed with the SEC on August 14, 2015. Additional information will also be set forth in Upland's future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that Upland makes with the SEC. The forward-looking statements herein represent Upland's views as of the date of this press release and these views could change. However, while Upland may elect to update these forward-looking statements at some point in the future, Upland specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the views of Upland as of any date subsequent to the date of this press release.
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SOURCE Upland Software, Inc.
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