Pitney Bowes Forms Strategic Partnership for Supply Chain Management
Press release from the issuing company
STAMFORD, Conn., and CLIFTON, N.J., February 8, 2001 -- Pitney Bowes Inc. (NYSE:PBI) and Vertex Interactive Inc, (NASDAQ:VETX) jointly announced today the formation of a strategic partnership in which Pitney Bowes will transfer its Transportation Management Software and certain engineering assets to Vertex and receive in return an equity stake in Vertex, the market-leading, e-business supply chain and fulfillment solutions provider. The companies will jointly develop, market and support a modular suite of integrated supply chain applications that leverage Vertex's leading-edge Renaissance Software for supply chain management and Pitney Bowes' distribution strength and shipping and transportation industry expertise.
The transaction will marry Pitney Bowes' ConquestTM multi-carrier transportation management software with Vertex's JAVA-based order and warehouse management software (added through Vertex's recent acquisition of Renaissance Software) to provide mid- to large-sized businesses with a complete, web-based, scalable supply chain management solution that can be deployed quickly and cost-effectively.
The application suite, Pitney Bowes Supply Chain Solutions, powered by Renaissance Software, will be marketed and serviced by Pitney Bowes, and will consist of three world-class modular components designed to work in concert. When used together, the modules form a comprehensive tool for managing supplies, finished goods, and warehouse inventory, from procurement to customer delivery. Modules may also be used individually or in a variety of combinations to fit specific user needs. The initial version of the suite will integrate transportation management and supply chain execution functions using a sophisticated mapping integration tool. Future versions of the software will offer built-in integration that allows components to be plugged together directly.
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