News Column

HighJump Software acquired by rival Accellos

July 8, 2014

By Neal St. Anthony, Star Tribune (Minneapolis)



July 08--HighJump Software, a Bloomington firm that pioneered warehouse management and logistics software, has been acquired by a Colorado-based rival, Accellos Software.

The deal, terms of which were not disclosed, brings together two leading providers of software that distributors and retailers use to keep track of items in warehouses and in transit.

The merged company will adopt the HighJump name and be led by Accello's chief executive, Michael Cornell. "This combination brings extremely complementary technology to both Accellos and HighJump customers," Cornell said in a statement.

Accellos declined a request for executive interviews. A spokeswoman said no immediate changes were planned for HighJump's operations but it was unclear where the combined firm would be based.

It will continue to offer and maintain existing software products from both companies and converge them in the future, the company's statement said.

The merger is driven in large part by the push among retailers to be able to deliver goods quickly from a warehouse, as an online-only retailer would, if it is not available in a store. And traditional retailers want to be able to ship goods both their own warehouse or that of a distributor.

HighJump and Accello have scrambled to adapt their software to give retailers such deliver-anytime capability. HighJump's products are chiefly used by midsize and large retailers, while Accello has a greater presence among distributors and wholesalers with multiple retail clients. Accellos said the combined firm will serve 11,000 customers in 23 countries.

Accellos got fueled with expansion capital in late 2012, when Accel-KKR, a Silicon Valley private equity firm, bought a majority stake.

HighJump, founded in 1983 by local entrepreneurs, was originally a developer of bar code data collection systems. It was sold to 3M Co. in 2004 for about $90 million in 2004.

In 2008, 3M sold HighJump for, reportedly, much less to Battery Ventures, a Boston-based venture capital firm.

Last year, HighJump acquired Evenex ApS, a Danish computer services and consulting firm, for an unspecified amount.

HighJump as 498 employees, 8,300 customers and offices in the Twin Cities, Pittsburgh, Dallas, Virginia, Canada, Denmark and China.

Neal St. Anthony -- 612-673-7144

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(c)2014 the Star Tribune (Minneapolis)

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Source: Star Tribune (Minneapolis, MN)


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