EXHIBIT 99.1
Contact:
Manhattan Associates, Inc.
Investor Relations Contact:
Matt Robert, 678-597-7317
mroberts@manh.com
www.manh.com
or
Outlook Marketing
Media Relations Contact:
Michelle Meek, 312-873-3424
michelle@outlookmarketingsrv.com
PRESS RELEASE Source: Manhattan Associates, Inc.
MANHATTAN ASSOCIATES ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE EVANT
Thursday August 11, 7:30 am ET
EXTENDS LEADING SUPPLY CHAIN SOLUTION PROVIDER INTO DEMAND PLANNING &
FORECASTING AND REPLENISHMENT MARKETS
ATLANTA--(BUSINESS WIRE)--Aug. 11, 2005--Manhattan Associates, Inc. (NASDAQ:
MANH - News), the global leader in providing supply chain execution and
optimization solutions, has signed a definitive agreement to acquire Evant,
Inc., a provider of supply chain planning and replenishment solutions. Privately
held and based in San Francisco and Atlanta, Evant provides solutions to more
than 60 companies in the retail, manufacturing and wholesale distribution
industries, including many that are joint Manhattan Associates clients. Under
the terms of the agreement, Manhattan Associates will pay approximately $50
million in cash for the company.
The Evant acquisition extends Manhattan Associates' solution footprint beyond
its current supply chain execution leadership position. This combination of
planning, optimization and execution solutions would make Manhattan Associates
the only company in the world that provides the complete footprint for supply
chain management.
Moreover, this acquisition provides the existing Evant customer base the
advantage of Manhattan Associates' suite of Integrated Logistics Solutions(TM),
which includes Distributed Order Management, Warehouse Management,
Transportation Management, Trading Partner Management, Reverse Logistics
Management and RFID in a Box(R).
"We believe the extension into supply chain planning and replenishment is a
natural evolution for Manhattan Associates. We know from experience with our
joint customers, that companies with the best supply chains in the world are
looking for a single business partner to provide solutions and expertise for
integrating their supply and demand networks," said Pete Sinisgalli, president
and CEO of Manhattan Associates. "The combination of our solutions represents an
important step in our plan to continue to deliver superior value to our
customers and shareholders."
"Merging our company with Manhattan Associates will bring tremendous value to
our customers and the market as a whole," said Robert R. Lewis, chief executive
officer of Evant. "Our track record in supply chain planning and replenishment,
combined with our new standalone forecasting solution, will extend Manhattan
Associates' leadership from supply chain execution, positioning them as the
supply chain company."
Staples, Inc., executive vice president of Supply Chain, Paul Gaffney, said,
"Supply chain performance is critical in supporting Staples' commitment to
making it easy to buy office products. As a customer of Manhattan Associates and
Evant for several years, we see tremendous synergy and value in Manhattan
Associates providing a total supply chain footprint for our operation."
The acquisition is subject to customary closing conditions and is expected to
close on or before September 30, 2005. The transaction is expected to be about
$0.02 dilutive to fourth quarter adjusted earnings per share (EPS) for Manhattan
Associates this year. For 2006, it is expected the acquisition will add about
$0.03 cents to adjusted EPS. At this time, it is not possible to estimate the
impact of the transaction under Generally Accepted Accounting Principles (GAAP)
due to the need to complete an independent appraisal of the net assets being
acquired and the related purchase accounting adjustments. The transaction has
been approved by both the Manhattan Associates board of directors and the Evant
board of directors.
Manhattan Associates' senior management will host a conference call for the
investment community on Thursday, August 11, 2005, at 8:30 a.m. EDT. All
interested parties are invited to listen to a live Web cast of the conference
call through the investor relations section of the Manhattan Associates Web
site. To listen to the Web cast, please go to the Web site at least 15 minutes
early to download and install any necessary audio software. For those who cannot
listen to the live broadcast, a replay will be available shortly after the call
by dialing +1.800.642.1687 in the U.S. or Canada and +1.706.645.9291 if outside
the U.S., reservation number 8641514, or via the Web at www.manh.com. The phone
replay and the Internet broadcast will be available until Manhattan Associates'
next earnings call.
About Manhattan Associates, Inc.
Manhattan Associates, Inc., is the global leader in providing supply chain
execution and optimization solutions. It enables operational excellence through
its warehouse, transportation, distributed order management, reverse logistics
and trading partner management solutions, as well as its RFID, performance
management and event management capabilities. These Integrated Logistics
Solutions(TM) leverage state-of-the-art technologies, innovative practices and
domain expertise to enhance performance, profitability and competitive
advantage. Manhattan Associates has licensed more than 900 customers
representing more than 1,600 facilities worldwide, which include some of the
world's leading manufacturers, distributors and retailers. For more information
about Manhattan Associates, visit www.manh.com.
This press release may contain "forward-looking statements" relating to
Manhattan Associates, Inc. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. Among the important
factors that could cause actual results to differ materially from those
indicated by such forward-looking statements are delays in product development,
undetected software errors, competitive pressures, technical difficulties,
market acceptance, availability of technical personnel, changes in customer
requirements, risks of international operations and general economic conditions.
Additional factors are set forth in "Safe Harbor Compliance Statement for
Forward-Looking Statements" included as Exhibit 99.1 to the Company's Annual
Report on Form 10-K for the year ended December 31, 2004. Manhattan Associates
undertakes no obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events or changes
in future operating results.
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