TAKE Supply Chain Acquires Product Division of PSI Software
Austin, TX – August 12, 2009 – TAKE Supply Chain (formerly ClearOrbit), a leading provider of software solutions to power demand-driven value networks, today announced the acquisition of the product division of privately-held, El Paso, TX-based, PSI Software, Inc. The acquisition solidifies TAKE’s commitment to global trade management. In March, the two companies partnered to provide a solution to manufacturers importing and exporting large quantities of goods and components across the U.S., Canada and Mexico. The acquisition will expand the global trade management solution beyond its current North American Free Trade Agreement (NAFTA)-focus to managing compliance and trade requirements worldwide.
According to AMR Research’s Will McNeill, research director, “In the area of global trade management, managing the risk has fallen on supply chain, logistics, compliance and financial professionals. A typically outsourced process has started to come in-house, and the software market is growing, expanding and evolving to meet these needs. TAKE Supply Chain’s acquisition of PSI is a good example of this growth.”
Based on both companies’ vast experience working with the world’s largest manufacturers and distributors, the acquisition is expected to yield supply chain efficiencies and cost savings for organizations producing goods for international trade. PSI’s industry-leading customs compliance automation and global trade management technology combined with TAKE Supply Chain’s data collection automation, supplier collaboration and track, trace and control capabilities will provide a complete audit trail and supporting documentation to ensure proper customs compliance.
“Housing all of the trade information on a single platform with a globalized view throughout the supply chain is a tremendous competitive advantage in today’s dynamic global trade environment,” said John Reece, president of the TAKE Supply Chain Division. Reece added that the Global Trade Management solution will enable organizations to efficiently analyze their trade strategies and ensure compliance with import and export regulations, permits, inspections and other restrictions.
“During the past 30 years, PSI has become the dominant software provider of North American trade compliance solutions. By becoming part of TAKE Supply Chain, we will expand our footprint to global trade compliance,” said Kevin Marshall, PSI president. “By offering the global marketplace solutions that automate and streamline import, export, trade agreement and supply chain visibility operations, we will enable more companies to trade legally and effectively, comply with regulations, avoid border delays, fines and penalties and reduce their costs.”
PSI will become a unit of the TAKE Supply Chain division of TAKE Solutions, a division of Chennai, India-based TAKE Solutions.
About PSI Software
Since 1979, PSI Software, Inc. has provided manufacturers in North America with international trade software applications to ensure proper compliance. More than 500 customers — Fortune 1000 clients through small, locally-owned manufacturers — benefit from PSI products, support and services which have earned the company the reputation of the premier software provider in the customs trade compliance industry. More information is available at www.psisoftware.com .
About TAKE Supply Chain
Formerly known as ClearOrbit, TAKE Supply Chain's real-time supply chain execution solutions improve the speed, visibility, and control of extended manufacturing and distribution supply chains. Since 1994, Austin, Texas-based TAKE Supply Chain has assisted more than 450 clients in automating and controlling process execution within their extended supply networks. TAKE Supply Chain delivers on the promise of enterprise resource planning (ERP) systems such as those provided by SAP and Oracle with fully integrated supply chain mobility and collaboration solutions that address last mile functionality issues while complementing the existing infrastructure. TAKE Supply Chain customers include market leaders such as Alcoa, Canon, Cisco and Motorola. TAKE Supply Chain is a division of TAKE Solutions. For more information, visit www.takesupplychain.com .
About TAKE Solutions
TAKE Solutions is a technology-enabled Business Solutions company with recognized industry leadership in Microsoft-based Solutions, Regulated Life Sciences, and Supply Chain Management. TAKE Solutions has U.S. offices in Princeton, NJ, Research Triangle Park, NC, and Philadelphia, PA. TAKE Solutions conducts business today with hundreds of the world's largest companies. TAKE Solutions is SEI-CMMI Level 5 Certified, Microsoft Gold Certified, a member of the Microsoft Global BioIT Alliance and is a Registered CDISC Solution provider. TAKE Supply Chain is a division of TAKE Solutions. For more information about TAKE Solutions visit www.takesolutions.com .
According to AMR Research’s Will McNeill, research director, “In the area of global trade management, managing the risk has fallen on supply chain, logistics, compliance and financial professionals. A typically outsourced process has started to come in-house, and the software market is growing, expanding and evolving to meet these needs. TAKE Supply Chain’s acquisition of PSI is a good example of this growth.”
Based on both companies’ vast experience working with the world’s largest manufacturers and distributors, the acquisition is expected to yield supply chain efficiencies and cost savings for organizations producing goods for international trade. PSI’s industry-leading customs compliance automation and global trade management technology combined with TAKE Supply Chain’s data collection automation, supplier collaboration and track, trace and control capabilities will provide a complete audit trail and supporting documentation to ensure proper customs compliance.
“Housing all of the trade information on a single platform with a globalized view throughout the supply chain is a tremendous competitive advantage in today’s dynamic global trade environment,” said John Reece, president of the TAKE Supply Chain Division. Reece added that the Global Trade Management solution will enable organizations to efficiently analyze their trade strategies and ensure compliance with import and export regulations, permits, inspections and other restrictions.
“During the past 30 years, PSI has become the dominant software provider of North American trade compliance solutions. By becoming part of TAKE Supply Chain, we will expand our footprint to global trade compliance,” said Kevin Marshall, PSI president. “By offering the global marketplace solutions that automate and streamline import, export, trade agreement and supply chain visibility operations, we will enable more companies to trade legally and effectively, comply with regulations, avoid border delays, fines and penalties and reduce their costs.”
PSI will become a unit of the TAKE Supply Chain division of TAKE Solutions, a division of Chennai, India-based TAKE Solutions.
About PSI Software
Since 1979, PSI Software, Inc. has provided manufacturers in North America with international trade software applications to ensure proper compliance. More than 500 customers — Fortune 1000 clients through small, locally-owned manufacturers — benefit from PSI products, support and services which have earned the company the reputation of the premier software provider in the customs trade compliance industry. More information is available at www.psisoftware.com .
About TAKE Supply Chain
Formerly known as ClearOrbit, TAKE Supply Chain's real-time supply chain execution solutions improve the speed, visibility, and control of extended manufacturing and distribution supply chains. Since 1994, Austin, Texas-based TAKE Supply Chain has assisted more than 450 clients in automating and controlling process execution within their extended supply networks. TAKE Supply Chain delivers on the promise of enterprise resource planning (ERP) systems such as those provided by SAP and Oracle with fully integrated supply chain mobility and collaboration solutions that address last mile functionality issues while complementing the existing infrastructure. TAKE Supply Chain customers include market leaders such as Alcoa, Canon, Cisco and Motorola. TAKE Supply Chain is a division of TAKE Solutions. For more information, visit www.takesupplychain.com .
About TAKE Solutions
TAKE Solutions is a technology-enabled Business Solutions company with recognized industry leadership in Microsoft-based Solutions, Regulated Life Sciences, and Supply Chain Management. TAKE Solutions has U.S. offices in Princeton, NJ, Research Triangle Park, NC, and Philadelphia, PA. TAKE Solutions conducts business today with hundreds of the world's largest companies. TAKE Solutions is SEI-CMMI Level 5 Certified, Microsoft Gold Certified, a member of the Microsoft Global BioIT Alliance and is a Registered CDISC Solution provider. TAKE Supply Chain is a division of TAKE Solutions. For more information about TAKE Solutions visit www.takesolutions.com .