JDA Software Group, Inc. (JDAS) said Thursday that it has completed the acquisition of i2 Technologies, Inc. (ITWO) in a deal valued at about $604 million, or $19.79 per share.
The deal was first announced in November.
JDA noted that with the acquisition it solidifies its position as one of the world's leading providers of supply chain management and pricing solutions with the addition of i2's 400-plus customers and robust, patented manufacturing, supply chain, retail and transportation solutions.
As part of the acquisition, former i2 executives Aditya Srivastava and Kelly Thomas will join JDA's executive and senior management team. Srivastava is the combined company's Senior Vice President and Chief Technology Officer and Thomas is Senior Vice President, Manufacturing. JDA also promoted Namita Dhallan to Chief Product Officer and Salil Joshi to Regional Vice President of JDA's Center of Excellence in India.
Under the terms of the merger agreement, each issued and outstanding share of i2's common stock was converted into the right to receive $12.70 per share in cash and 0.2562 shares of JDA common stock with a combined value equal to $19.79 per share based on JDA's closing stock price on Jan. 27.
JDA said it used the proceeds from its previously issued $275 million senior notes offering and a portion of the companies' combined cash balances at closing to fund the cash obligations under the merger agreement and related transaction expenses.
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