Cloud-based business management software company
NetSuite has acquired the cloud business of cloud-based manufacturing software provider IQity Solutions (IQity). NetSuite, which has headquarters in San Mateo, California, United States, is “the world's leading provider of cloud-based business management software”. Established in 1998, its services extend to online accounting, ERP, CRM and ecommerce software solutions for business. It caters to a global customer base of around 30,000 companies. The acquisition adds manufacturing capabilities to NetSuite’s portfolio. Costs related to the acquisition were not released.
IQity, which has headquarters in Pittsburgh, Pennsylvania, United States, offers advanced cloud-based collaborative manufacturing software for SMBs and larger companies. Its IQ-Fusion solution manages all aspects of planning, manufacturing and quality management and helps companies reduce costs by up to 12%. Together the two companies will help manufacturers enhance operational efficiency further to establish additional cost savings.
“As today’s manufacturers face increased global competition, rising customer expectations and digital transformation, they need modern technology solutions to enable them to adapt,” explained Jim McGeever, the President of NetSuite. “The combination of NetSuite and IQity arms these companies with a unified, cloud-based system that extends across manufacturing, financial and commerce processes to help transform their business operations.”
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