With IQity Buy, NetSuite Broadens ERP Appeal for Manufacturers
There is little doubt that IQity's cloud manufacturing software complements NetSuite's cloud ERP software. After attending a webinar during which IQity demonstrated some of its features on the NetSuite platform, Andrew Bolivar, a senior consultant for Ultra Corporation, came away impressed. In particular, Bolivar wrote, IQity's quality control features, integration with recipe and formula management and batch order management would help NetSuite grow its market share among manufacturing companies.
So it's not surprise that NetSuite just announced it plans to acquire IQity, its former partner, for an undisclosed sum. IQity's capabilities will ensure NetSuite's cloud ERP suite will appeal to both discrete and batch process manufacturers, according to the two companies.
Founded in 2007, Pittsburgh-based IQity Solutions has been developing solutions on the NetSuite platform since 2012. Its IQity Advanced Manufacturing SuiteApp, natively built on the platform, provides NetSuite customers with shop floor, resource capacity planning, finite production scheduling, batch work order management, integrated quality management and advanced data collection capabilities.
At the time of the acquisition, NetSuite and IQity shared nearly 40 joint customers, the companies noted.
“The combination of NetSuite and IQity arms [manufacturing] companies with a unified, cloud-based system that extends across manufacturing, financial and commerce processes to help transform their business operations,” said NetSuite President Jim McGeever in a statement.
NetSuite was founded in 1998 and employs some 4,000 people. The company reported revenue of more than $500 million in 2014 and boasts about 30,000 customers in 100 countries. IQity is its sixth acquisition in three years. Most recently it purchased cloud-based marketing automation company Bronto Software last April for $200 million.
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