The former supply chain enablement division of Peregrine Systems Inc. is rising again as a new company focused on enabling business-to-business communities.
Private equity firm Golden Gate Capital LLC, of San Francisco, last week launched the company, called Inovis Inc.—a reconstruction of the Peregrine unit that Golden Gate purchased in June.
Cerberus Capital Management LP and Parallax Capital Partners LLC also participated in the transaction, details of which the companies did not release.
Although the name is new, Atlanta-based Inovis has an 18-year history beginning with the 1984 formation of Harbinger Corp., one of the two main constituents that made up the Peregrine Supply Chain Enablement unit. The other was Extricity Inc.
Inovis provides B2B enablement software to more than 20,000 customers and operates the global trading community Get2Connect, previously owned by Peregrine. Get2Connect processes more than 1.4 million B2B transactions a day.
Moving forward, Inovis will deliver business process management, data transformation, and EDI (electronic data interchange) and XML network connectivity, as well as a range of services.
Officials are also planning to develop business community enablement software based on Java 2 Enterprise Edition and Web services, which will allow Inovis to handle B2B enablement through traditional technology integration or managed outsourcing.
The Inovis executive team and senior staff are holdovers from both Harbinger and Extricity.
Richard Sielman, EDI manager at Otis Spunkmeyer Inc., is using Inovis AS/400 Trusted Link software to trade purchase orders, invoices and warehouse shipping orders via EDI with suppliers and customers such as Wal-Mart Stores Inc. Sielman said he has seen no changes to the level of support from Inovis since Golden Gate bought the company.
"The core people that deal with our software still seem to be in place," said Sielman, in San Leandro, Calif.
San Diego-based Peregrine landed in hot water this spring when it uncovered accounting improprieties. The company has since lost some top managers (include CEO Steve Garner and Chief Financial Officer Matt Glass), had to restate three years of earnings and has been delisted from NASDAQ.