HighJump Software Acquires Pinnacle; Acquisition Will Strengthen Customers' Ability to Meet Global Supply Chain Demands
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Press release date: June 6, 2006
EDEN PRAIRIE, Minn.-July 6, 2006-HighJump Software, a 3M company, announced today that it has acquired Pinnacle Distribution Concepts Inc. HighJump Software is a global provider of adaptable supply chain execution (SCE) solutions. Pinnacle is a leading transportation management system (TMS) provider specializing in the delivery of Web-based, "on-demand" solutions. Terms of the transaction were not disclosed.
On-demand services, accessed through a hosted model, are emerging as the preferred architecture for TMS solutions. Pinnacle's FreightLogic Web-based TMS, delivered today as an on-demand service, positions HighJump Software among the leaders in meeting this market trend.
The addition of Pinnacle expands HighJump Software's presence in the transportation market and will help customers minimize shipping costs while improving customer service. FreightLogic will become an integral component within the HighJump Supply Chain Advantage suite, which features integrated software applications that manage supply chain operations from the source of materials through final delivery. "The integration of Pinnacle's transportation management system with the HighJump suite creates tremendous opportunities for growth and market reach," said Chris Heim, president and general manager, HighJump Software. "On-demand transportation management solutions make a lot of sense for many business models today. Our customers will benefit from a full line of flexible solutions that work together to create highly efficient, global supply chains."
About HighJump Software, a 3M Company
HighJump Software, a 3M company is a global leader in providing highly adaptable, best-of-breed supply chain execution solutions that streamline manufacturing and distribution from the point of source through consumption. HighJump Software's integrated solutions empower operational excellence in the warehouse and optimize the flow of inventory throughout the supply chain by facilitating collaboration with customers, suppliers and trading partners. These solutions combine robust, standard functionality; a best practices-based implementation methodology; and a uniquely adaptable architecture that facilitates fast, cost-effective system modifications. As an independent subsidiary in the 3M family of companies, HighJump Software leads the supply chain execution software industry in financial strength and delivers on an unmatched commitment to innovation and quality.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company's customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers in more than 200 countries around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation.
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command, Vikuiti, HighJump and FreightLogic are trademarks of 3M.
Contacts 3M, St. Paul Media Contact: Donna Fleming, 651-736-7646 or HighJump Software Media Contact: Katie Wolfe, 952-563-5297 or 3M Investor Contacts: Matt Ginter, 651-733-8206 or Bruce Jermeland, 651-733-1807