Press Releases
TradeBeam Acquires the Assets of Qiva
San Mateo, CA, June 12, 2003—TradeBeam, Inc. has acquired certain assets of Qiva Inc. Qiva spent over $50m developing solutions to help its customers manage their global logistics and compliance activities. Qiva’s customers were predominantly in the hi-tech and retail markets. The transaction was for an undisclosed amount of cash.
“The acquisition provides TradeBeam with International Trade Logistics (ITL) functionality, solidifying the company as a leader in the Global Trade Management space. Qiva brings the company premier capabilities for the hi-tech and retail industries,” according to Graham R F Napier, TradeBeam CEO.
Qiva’s solution capabilities are expected to provide an excellent enhancement to TradeBeam’s existing global trade management application suite. The transaction will accelerate end-to-end global trade functionality related to ITL and transportation event management for TradeBeam. The deal supports the TradeBeam mission to provide software solutions that streamline the entire lifecycle of a global trade across order, logistics and settlement activities to improve global trade operating efficiencies and cash flows. In addition to hi-tech and retail, TradeBeam’s other vertical markets include aerospace and defense, automotive, and Oil and Gas.
“TradeBeam picked up critical supply chain execution components in its recently announced acquisition of Qiva, functionality that is necessary for the company to meet its goal of becoming a leader in Global Trade Management,” said John Fontanella, Vice President Research (AMR Alert June 9th 2003)
The acquisition is highly complementary to the TradeBeam business plan and reflects the increased level of consolidation in the market today. TradeBeam’s strong cash position and market traction will enable the company to become the leader in the Global Trade Management market.
About TradeBeam
TradeBeam is a Global Trade Management software and services company providing a solution that streamlines global trading processes for enterprises and their partners. TradeBeam delivers an end-to-end solution across order, logistics and settlement to improve global trade operating efficiencies and cash flows. We expect TradeBeam 2.0 to deliver twelve plus (12+) days of improvement for your business’ cash flow.