End-to-end cloud-based supply chain management company E2open Parent Holdings Inc (NYSE:ETWO) has closed an acquisition and raised guidance.
What Happened: E2open announces Wednesday the closing of its acquisition of BluJay Solutions, a leading cloud-based, logistics execution platform.
“The acquisition of BluJay is a continuation of our strategy to offer the broadest and most data-rich SaaS supply chain platform,” E2open CEO Michael Farlekas said.
The acquisition creates a leading, independent SaaS-based supply chain platform spanning supply chain planning and execution. BluJay Solutions will expand E2open’s network participants by 25% and include a heavy presence in transportation and logistics.
E2open’s global reach also expands with the acquisition of BluJay. The company said the deal will help expand its data and analytics offerings.
What’s Next: E2open raises its full-year guidance from a range of $369 million to $371 million to a new range of $373 million to $375 million for E2open’s existing business.
The company raises its proforma full fiscal year revenue guidance from $558 million to $570 million, on a non-GAAP basis.
ETWO Price Action: ETWO shares are up 4% to $12.44 at the time of writing.