NetSuite Acquires IQity’s Cloud Business, Adding Deep Next Generation Manufacturing Capabilities to the #1 Cloud ERP
SAN MATEO, Calif.—March 2, 2016—NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that it has acquired IQity’s cloud business. The financial terms of the acquisition were not disclosed.
This acquisition extends NetSuite’s #1 cloud ERP leadership and for the first time creates a single cloud software system that meets the needs of both discrete and batch process manufacturers of all sizes with the ERP power to run their core business operations along with the deep industry functionality required to meet ever-changing market needs and customer expectations. The combined strengths of NetSuite and IQity’s deep domain experience can enable manufacturers to manage their business more profitably from order-to-cash through build-to-ship, helping them to achieve overall operational excellence, take control of supply chain processes and improve business value, while reducing operating costs and IT overhead.
Founded in 2007 and headquartered in Pittsburgh, Pa., IQity Solutions joined NetSuite’s SuiteCloud Developer Network (SDN) in 2012 as a key solution partner. Leveraging the NetSuite SDN Platform, IQity created the IQity Advanced Manufacturing SuiteApp—natively built on the NetSuite platform—providing NetSuite customers with shop floor, resource capacity planning, finite production scheduling, batch work order management, integrated quality management and advanced data collection capabilities to track actual production results, equipment utilization, labor productivity, downtime, rework and more; culminating in lower operating costs and improving profitability. The IQity Advanced Manufacturing SuiteApp achieved “Built for NetSuite” certification from the Built for NetSuite (BFN) program, which is designed to give NetSuite customers additional confidence in the quality of SuiteApps.
At the time of the acquisition, NetSuite and IQity had nearly 40 joint customers.
“As today’s manufacturers face increased global competition, rising customer expectations and digital transformation, they need modern technology solutions to enable them to adapt,” said NetSuite President Jim McGeever. “The combination of NetSuite and IQity arms these companies with a unified, cloud-based system that extends across manufacturing, financial and commerce processes to help transform their business operations.”
Combination Can Enable Modern Manufacturers to Transform their Business and Improve Profits Through Operational Efficiency