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Manhattan Associates completes acquisition of Evant

Supplier News

LEADING supply chain solutions provider, Manhattan Associates Inc. has announced its acquisition of Evant Inc., a provider of supply chain planning and replenishment solutions.

The transaction is expected to be approximately US$0.02 dilutive to 2005 adjusted earnings per share for Manhattan Associates and US$0.03 accretive to 2006 adjusted earnings per share.

Initially the company expected the transaction to close on September 30. With the transaction now closed, some of the transition costs expected to be recognised in the fourth quarter will now be recognised in Manhattan Associates' third quarter.

As a result, it is expected the acquisition will have a US$0.01 dilutive impact on the third quarter results and a US$0.01 dilutive impact on the fourth quarter results.

At this time, it is not possible to estimate the impact of the transaction under Generally Accepted Accounting Principles (GAAP) due to the need to complete an independent appraisal of the net assets being acquired and the related purchase accounting adjustments.

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