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By Mel Duvall
JDA Software of Scottsdale, Ariz. has agreed to acquire supply chain software specialist i2 Technologies for about $346 million.
The deal for Dallas-based i2 would boost JDA Software's supply chain offerings and give the company a global footprint.
Under the terms of the deal, JDA will pay $14.86 for each i2 share, a 4.9% premium to its Friday closing price. JDA expects the takeover, which will close in the fourth quarter, could generate about $20 million in cost savings.
i2 has been on the block since November of 2007 when the company formed a strategic review committee to look at options to enhance shareholder value. Earlier this summer the company said it was in negotiations with at least two parties regarding a sale or merger but that more time was needed to pursue those negotiations.
i2 has struggled in recent years as companies increasingly leaned on the big enterprise resource planning (ERP) software vendors, such as SAP and Oracle, for their supply chain needs. However, i2 has managed to maintain a high profile customer base in the face of that competition, including Toyota, General Motors, Nokia, and Anheuser-Busch.
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