|By Marketwired .||
|January 3, 2013 03:00 AM EST||
WESTPORT, CT -- (Marketwire) -- 01/03/13 -- Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today it has acquired WAM Systems. WAM is the premier provider of supply chain planning and optimization solutions for process manufacturing industries including oil and gas, polymers, CPG, food and beverage, pharmaceuticals, and chemicals.
Companies are experiencing dramatic increases in business risk and downward pressure on margins due to the unprecedented complexity and volatility of today's global economy. The need for visibility and optimization across all elements of a value chain has never been greater. The WAM Systems acquisition singularly positions Triple Point to immediately deliver comprehensive planning and optimization solutions to profitably manage commodity risk, material procurement, demand planning, finished goods forecasting, and sales and operations planning.
"The next big leap forward in managing commodity value chains is the use of real-time, market-based costs in enterprise plans," said Peter F. Armstrong, CEO and president, Triple Point. "As Gartner mentioned in its 2012 predictions report, organizations can have efficient supply chains, but if they can't effectively manage volatile commodity costs, their bottom line results will be subject to the vagaries of the market. Through the acquisition of WAM, Triple Point is uniquely positioned to help businesses navigate the volatile and complex markets in which they operate."
WAM has an established track record of deploying its supply chain solutions across a wide variety of process manufacturing industries. The company's planning and optimization products are used by organizations around the globe. Notable customers include Indian Oil, LyondellBasell, PetroChina, PTT Global Chemical, Sasol Oil, Saudi Aramco, and Solvay.
Triple Point and WAM's complementary customer bases, market focus, and product synergies create substantial opportunities for accelerated growth in combined market share, revenue, and profit. The outstanding financial performance of WAM -- in terms of strong revenue growth, healthy profit margins, and a solid balance sheet -- underscores the suitability and attractiveness of the transaction for both companies' shareholders, employees, and customers.
All WAM employees have joined Triple Point, and WAM's three co-founders, including CEO Jack Weiss, will take key leadership roles. The WAM executive team will be instrumental in integrating the companies' product portfolios, driving product advancement, and accelerating customer adoption of the solution set.
"Integrating with a larger, successful organization like Triple Point gives WAM the immediate resources and reach to accomplish its goals of continued growth and support of new and existing customers," said Weiss. "This is an exciting time for manufacturing industries, and becoming part of Triple Point is the perfect next step."
About Triple Point Technology
Triple Point Technology® is the leading global provider of cloud and on-premise Commodity Management software that delivers advanced analytics for optimizing end-to-end commodity and energy value chains. The company provides innovative solutions for managing all aspects of volatile commodity supply chains: trading, procurement, enterprise risk management, logistics, scheduling, storage/inventory, processing, settlement, and accounting. Over 400 customers in 35+ countries across industries including energy, metals, minerals, chemicals, agriculture, shipping, consumer products, food and beverage, retail, and manufacturing depend on Triple Point solutions. Triple Point was named a "Leader" in Gartner's ETRM Magic Quadrant in 2009, 2010, 2011, and 2012. The company employs over 850 staff in 15 offices and support centers worldwide. www.tpt.com
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