By Milana Vinn and Krystal Hu
(Reuters) – QAD, a business software maker was taken private by buyout firm Thoma Bravo in 2021 for $2 billion, told Reuters on Wednesday it has agreed to acquire employee productivity platform Redzone for about $1 billion.
Redzone, which was founded in 2013, offers enterprise software solutions primarily for the manufacturing industry. The name of the company is a play on the American football term “red zone”, which refers to the end zone on a football field. Redzone is on track to hit an annual revenue rate of $100 million, the companies said.
Founded in 1979, QAD provides cloud-based planning and resources solutions software to manufacturing companies.
The deal will help QAD expand its footprint across different sectors within the manufacturing industry.
(Reporting Milana Vinn in San Francisco and Krystal Hu in New York; Editing by Greg Roumeliotis)
