September 5, 2006 -- Illinois Tool Works Inc. has an agreement in place to buy all the outstanding shares of Click Commerce Inc., a provider of “on-demand supply chain management solutions.” ITW produces engineered components and industrial systems.
Click Commerce's supply chain software allows users to collaborate in real time with partners across their extended enterprises. The products offer B2B e-commerce systems for demand-chain management, real-time RFID-enabled supply chain management, service supply chain management, and master data management. These software products are used in industries, such as manufacturing, aerospace and defense, distribution infrastructures, financial services and high-tech.
The agreement calls for ITW to make a cash offer at $22.75/share for all of Click Commerce's outstanding shares, in a transaction estimated at $292 million. The directors of both companies have approved the agreement.
"We believe Click Commerce represents a solid new growth platform for ITW. Click Commerce is well positioned to continue to expand its value-added software solutions and market presence across a wide range of industries, including several where ITW has a strong presence and where we have prospered over the years," stated ITW chairman and CEO David B. Speer. "The company's growth through a combination of internal product development initiatives and complimentary acquisitions is very similar to ITW's approach and affords us exciting future growth opportunities in this software solution space."