Product lifecycle management software developer Agile Software Corp. announced Wednesday that it acquired all of oneREV Inc.s capital stock for $1.725 million.
The actual acquisition was announced Tuesday, but financial details were not disclosed until Wednesday.
oneREV, of Cupertino, Calif., brings enabling technology to Agile, of San Jose, Calif.
With oneREV, Agile will have the technology to speed the exchange of information between Agile systems and external information systems, including information from supply chain partners, customers information warehouses and external supplier catalogs, officials said.
Agile acquired oneREV as part of its strategy to provide software solutions around the whole product record.
When the company looked at problems around product records when companies exchange information, as well as when products move around inside an organization, what they found is a significant problem around semantics, with different companies using different naming conventions, schemas and standards for product definitions.
What oneREV provides is technology that maps component data from one supply partner, for example, to another, as well as a means to apply automated information.
OneREV also provides a means to reference external content.
Nageen Sharma, CEO of oneREV, said the acquisition will enable Agile to take a step forward in its vision of achieving end-to-end ownership of the product record.
Under the terms of the deal, Agile paid roughly $1.5 million in cash to oneREV preferred stockholders and $225,000 in cash to common stockholders, according to an SEC filing.
The actual acquisition closed on December 20, 2002.