American Software, Inc. Announces Agreement to Divest of Transportation Rating Solutions
16 Novembre 2023 - 6:01PM
Business Wire
Divestment aligns with American Software’s
commitment to AI-first supply chain technology solutions
American Software, Inc. (NASDAQ: AMSWA), a leading provider of
innovative AI-powered supply chain management and advanced retail
planning platforms, announced today that its wholly-owned
subsidiary, Logility, Inc., signed an agreement for the sale of its
Transportation Rating Solutions (‘TRS') business which consists of
on-premise freight shipping solutions for LTL, truckload, and rail
shipments within North America to FOG Software Group
(‘FOG’), a division of Vela Software.
American Software is divesting TRS to focus on their core supply
chain planning business allowing Logility, the operating entity of
American Software, to continue to expand their AI-first supply
chain management platform. Designed for speed and agility,
Logility’s SaaS cloud-based platform provides a unique blend of
Generative AI, advanced AI-driven algorithms, machine learning, and
predictive analytics to help deliver integrated planning and
operations across the end-to-end supply chain.
“Supply chain planning is entering a significant transformation
with advancements in technology, generational shifts of the
workforce, and the significant speed of market changes and
disruptions,” said Allan Dow, CEO American Software. "This
divestment optimally positions us to concentrate on delivering
modern, breakthrough technology to the supply chain industry.”
About American Software
Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through
its operating entity Logility, delivers prescriptive demand,
inventory, manufacturing, and supply planning tools – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Serving clients such as Big Lots, Carter’s, Destination XL,
Hostess, Husqvarna Group, Jockey International, Johnson Controls,
Parker Hannifin, Red Wing Shoe Company, Spanx, Dole Fresh
Vegetables, Inc., and Fender Musical Instrument Co, our solutions
are marketed and sold through a direct sales team as well as an
independent global value-added reseller distribution network.
Logility is the only supply chain planning platform leveraging
Generative AI, advanced AI-driven algorithms, and machine learning.
Our engineered approach drives team alignment for over 800
customers in 80 countries with prioritized, value-focused outcomes.
For more information about Logility, please visit www.logility.com.
Logility is a wholly-owned subsidiary and operating entity of
American Software, Inc. You can learn more about American Software
at www.amsoftware.com or by calling (404) 364-7615 or email
kliu@amsoftware.ocom.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. References below to
the ‘Company’ means American Software, Inc. There are a number of
factors that could cause actual results or performance to differ
materially from what is anticipated by statements made herein.
These factors include, but are not limited to, continuing U.S. and
global economic uncertainty and the timing and degree of business
recovery; the irregular pattern of the Company’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of the Company’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect the Company’s future performance. For further information
about risks the Company could experience as well as other
information, please refer to American Software, Inc.’s current Form
10-K and other reports and documents subsequently filed with the
SEC. For more information, contact: Kevin Liu, American Software,
Inc., (626) 657-0013 or email kliu@amsoftware.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231116380827/en/
Kevin Liu kliu@amsoftware.com (626) 424-1535
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