E2open Acquires Serus Corporation for Approx. $18.5M

E2open (EOPN) on Thursday announced its acquisition of Serus Corporation, a supply chain management company.

The cloud-based, on-demand software provider, headquartered in Foster City, Calif., said Serus will bring technology-driven manufacturing supply chains to its portfolio, which will assist with extending its leadership in the high tech supply chain space.

The financial terms of the deal are as follows:

“$18.5 million at closing (comprised of approximately $14.5 million in cash and $4.0 million in E2open common stock), with up to an additional $7.5 million in cash contingent upon the achievement of certain revenue-related financial performance milestones.”

As a result of this deal, Serus’ cloud-based capabilities in collaboration and managing process intellectual property (IP), NPI and engineering change orders (ECOs) will be added to the E2open Business Network.

“The deeper visibility into semiconductor and high tech companies’ supply chains and earlier design and manufacturing processes offers better decision-making, more flexibility and earlier notification of any potential upstream disruptions,” Serus CEO Hari Menon said in a prepared statement.

E2open CEO Mark Woodward said in a prepared statement that Serus will complement his company’s portfolio of cloud-based connectivity, business process and analytics solutions.

“Serus’ impressive customer roster of semiconductor industry leaders and its employees with significant high tech expertise perfectly align with E2open’s traditional strength in high tech,” he said.

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