Amber Road, a provider of global trade management solutions, has acquired ecVision, a cloud-based provider of global sourcing and collaborative supply chain solutions.
Headquartered in Hong Kong, with company-owned operations in China and the United States, ecVision helps companies effectively manage their relationships with product suppliers, raw material vendors, product testing and social compliance audit firms, and global logistics companies. “This acquisition delivers value for Amber Road customers by providing new global supply chain capabilities to increase product innovation while balancing product compliance risks and costs with shorter product lead times,” said Amber Road CEO Jim Preuninger.
The ecVision Suite currently focuses on the following four primary business areas:
Vendor and Production Management: Allows global brands to efficiently on-board new suppliers, monitor capacity, manage purchase orders and raw material orders, as well as monitor production status.
Material and Product Management: Helps brands, their suppliers and tier-two material suppliers to collaborate and deliver more innovative products, by efficiently managing the sampling and testing processes, planning, forecasting and reserving raw materials and sourcing finished good production.
Risk and Quality Management: Helps to ensure that what is produced meets international regulatory testing requirements, brand specifications and social compliance standards with comprehensive functionality to manage component and product testing, auditing and finished goods quality inspections.
Shipment and Logistics Management: Provides a platform to document, manage and monitor all logistics activities from in-factory carton label creation, advanced shipping notice generation, carrier booking and tracking, and invoicing through receipt into the warehouse.
Under the terms of the transaction, Amber Road has acquired ecVision for a net cash amount of approximately $24 million, as well as up to $9 million over the next two years providing for an earn-out provision based upon achievement of certain revenue milestones and employee retention. The transaction is being financed with cash on-hand and a new $20 million term loan with KeyBank. The Jordan, Edmiston Group, served as financial advisor to ecVision in this transaction.