SANTA BARBARA, Calif. -- Aug. 22, 2018 -- 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 launched a new Indonesian subsidiary, PT QAD Asia Indonesia, and entered into a definitive agreement to acquire the business assets of PT Iris Sistem Inforindo (PT Iris). The acquisition is scheduled to close by Aug. 31.
"Indonesia has one of the fastest growing economies in the ASEAN region and is becoming one of the region's most important automotive manufacturing centers. QAD's direct presence in the country will provide global manufacturers and local companies with the full benefit of QAD's capabilities," said QAD Senior Vice President Asia Pacific, Stefan de Haar. "We see tremendous opportunity in this part of the region and we plan to leverage our investment to accelerate our market growth."
"PT Iris has been a QAD partner in South Asia for over 20 years and we have been impressed with the excellent work they have done with QAD solutions, their high customer satisfaction rates and the business value they have provided for our customers," said QAD Managing Director, South Asia, Stephen Fowler. "We look forward to serving our existing customers and new customers in Indonesia with PT QAD Asia Indonesia and expanding our share in the automotive and other manufacturing sectors in the country. I believe our cloud solutions, with their vertical focus and global capabilities are perfectly positioned for this market."
Founded in 1991 and headquartered in Jakarta, PT Iris has more than 40 employees, primarily business consultants supporting local and multinational companies in Indonesia and the ASEAN region. The company's specialties include Business Process Management (BPM) and Enterprise Resource Planning (ERP). PT Iris is a longtime distributor and system integrator for QAD solutions operating across South Asia, primarily in Indonesia. QAD does not expect a material impact to revenue or earnings in FY19 as a result of the acquisition.
"PT Iris has been a very successful partner for many years and a major contributor to our growth in Indonesia and the surrounding region," said QAD President and Founder Pam Lopker. "We are excited to add these local resources to our global capabilities."
QAD is a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies across the automotive, life sciences, consumer products, food and beverage, high technology and industrial manufacturing industries. QAD sells full-featured, secure and flexible enterprise and supply chain solutions built for global manufacturing companies, which can be delivered in the cloud, on-premise or via a blended combination of cloud and on-premise for manufacturers wanting to move to cloud over time.
About QAD – The Effective Enterprise
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB) is a leading provider of flexible, cloud-based enterprise software and services for global manufacturing companies. QAD Cloud ERP for manufacturing supports operational requirements in the areas of financials, customer management, supply chain, manufacturing, service and support, analytics, business process management and integration. QAD's portfolio includes related solutions for quality management software, supply chain management software, transportation and global trade management software and B2B interoperability. Since 1979, QAD solutions have enabled customers in the automotive, consumer products, food and beverage, high tech, industrial manufacturing and life sciences industries to better align operations with their strategic goals to become Effective Enterprises.
To learn more, visit www.qad.com or call +1 805-566-6000.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.