HighJump Software, a Bloomington firm that pioneered warehouse management and logistics software, has been acquired by a Colorado-based rival, Accellos Software.
The deal, terms of which were not disclosed, brings together two leading providers of software that distributors and retailers use to keep track of items in warehouses and in transit.
The merged company will adopt the HighJump name and be led by Accellos' chief executive, Michael Cornell. "This combination brings extremely complementary technology to both Accellos and HighJump customers," Cornell said in a statement.
Accellos declined a request for executive interviews. A spokeswoman said no immediate changes are planned for HighJump's operations, but it was unclear where the combined firm will be based.
It will continue to offer and maintain existing software products from both companies and converge them in the future, the company's statement said.
The merger is driven in large part by the push among retailers to be able to deliver goods quickly from a warehouse, as an online-only retailer would, if it is not available in a store. And traditional retailers want to be able to ship goods from their own warehouses or from those of a distributor.
HighJump and Accellos have scrambled to adapt their software to give retailers such deliver-anytime capability. HighJump's products are chiefly used by midsize and large retailers, while Accellos has a greater presence among distributors and wholesalers with multiple retail clients. Accellos said the combined firm will serve 11,000 customers in 23 countries.
Accellos was fueled with expansion capital in late 2012, when Accel-KKR, a Silicon Valley private equity firm, bought a majority stake.
HighJump, founded in 1983 by local entrepreneurs, was originally a developer of bar code data collection systems. It was sold to 3M Co. in 2004 for about $90 million.
In 2008, 3M sold HighJump for, reportedly, much less to Battery Ventures, a Boston-based venture capital firm.
Last year, HighJump acquired Evenex ApS, a Danish computer services and consulting firm, for an unspecified amount.
HighJump has 498 employees, 8,300 customers and offices in the Twin Cities, Pittsburgh, Dallas, Virginia, Canada, Denmark and China.
Neal St. Anthony • 612-673-7144
