Apr 7, 2021   SOURCE: BusinessWire

QAD Enhances Inventory and Supply Chain Agility with Acquisition of Foreign-Trade Zone Corporation

QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies, today announced it has acquired Foreign-Trade Zone Corporation (FTZ Corp.), a leading provider of cloud-based Foreign-Trade Zone (FTZ) software and consulting services based in Mobile, Alabama. QAD expects to integrate FTZ Corp. into QAD Precision, the company’s global trade and transportation division.

The transaction is not expected to have an immediate, material impact on QAD’s financial results. The addition of FTZ Corp. is expected to expand QAD’s addressable market, drive additional cloud growth within its existing customer base, and strengthen its trade and transportation solutions.

“We are very pleased to be adding FTZ Corp. and its SmartZone solution to our company,” said QAD CEO Anton Chilton. “Supply chain flexibility is increasingly important in today’s environment, requiring manufacturers to quickly adapt to a rapidly changing market. Foreign-Trade Zones have long been an important facilitator of inventory management and supply chain agility, and our ability to help customers take full advantage of FTZs, while saving them time and money, is an important part of providing a full end-to-end solution, from planning to execution.”

“The FTZ Corp. team adds considerable breadth and depth of expertise, with leaders who pioneered innovative enhancements and are well known by U.S. Customs having drafted language for the Trade Development Act of 2000. Simplifying duty management while improving transportation execution and trade compliance is a unique differentiator for us,” said Corey Rhodes, President of QAD Precision. “As the industry’s most robust turn-key solution, from grantee application and audit support through Weekly Entry processing, SmartZone complements QAD Precision’s offering and creates a one stop shop for all your shipping, tax, and compliance needs.”

“Joining the QAD team is a win for our customers and for our company,” said Craig Pool, FTZ Corp. Co-Founder. “By uniting with a premier software company who has a longstanding tradition of serving its customers and prioritizing global transportation and trade services in markets similar to ours, we will be better positioned to provide current and new customers with a comprehensive solution that helps them successfully navigate today’s supply chain requirements.”

FTZ Corp. was founded more than 20 years ago to provide assistance with FTZ projects across the United States. Since that time, the company has grown into a best-of-breed, highly-specialized cloud-based software and consulting business. FTZ Corp. has completed more than 1,000 projects for well-known global businesses including Catalent Pharma, Cummins Inc., Halliburton, Sanden USA, Sub-Zero Group, Inc., Thyssenkrupp Presta, and United Furniture, among others.

FTZ Corp. offers solutions for every aspect of the Foreign-Trade Zones program, including feasibility studies, FTZ Board requests and applications, activations with Customs and Border Protection, FTZ software, and managed FTZ operations.

About QAD – Enabling the Adaptive Manufacturing Enterprise

QAD Inc. is a leading provider of adaptive, cloud-based enterprise software and services for global manufacturing companies. Global manufacturers face ever-increasing disruption caused by technology-driven innovation and changing consumer preferences. In order to survive and thrive, manufacturers must be able to innovate and change business models at unprecedented rates of speed. QAD calls these companies Adaptive Manufacturing Enterprises. QAD solutions help customers in the automotive, life sciences, consumer products, food and beverage, high tech and industrial manufacturing industries rapidly adapt to change and innovate for competitive advantage.

Founded in 1979 and headquartered in Santa Barbara, California, QAD has 30 offices globally. Over 2,000 manufacturing companies have deployed QAD solutions including enterprise resource planning (ERP), demand and supply chain planning (DSCP), global trade and transportation execution (GTTE) and quality management system (QMS) to become an Adaptive Manufacturing Enterprise. To learn more, visit www.qad.com or call +1 805-566-6100. Find us on Twitter, LinkedIn, Facebook, Instagram and Pinterest.

“QAD” is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.

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