American Software, Inc. Announces Divestment of The Proven Method Business Unit
September 19 2023 - 2:54PM
Business Wire
Divestment aligns with American Software’s
commitment to AI-first supply chain technology solutions.
American Software, Inc. (NASDAQ: AMSWA), a leading provider of
innovative AI-powered supply chain management and advanced retail
planning platforms, announced today that they signed an agreement
for the sale of their information technology consulting firm, The
Proven Method to Marathon TS, Inc., an IT professional services
firm. This sale closed on September 18, 2023.
American Software divested The Proven Method to focus on their
core supply chain planning business allowing Logility, the
operating entity of American Software, to continue to expand its
AI-first supply chain management platform. Designed for speed and
agility, Logility’s (SaaS) cloud-based platform provides a unique
blend of Generative AI, advanced AI-driven algorithms, machine
learning, and predictive analytics to help deliver integrated
planning and operations across the end-to-end supply chain.
“Supply chain planning is entering a significant transformation
with advancements in technology, generational shifts of the
workforce, and the significant speed of market changes and
disruptions,” said Allan Dow, CEO American Software. "This
divestment optimally positions us to concentrate on delivering
modern, breakthrough technology to the supply chain industry.”
About American Software
Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through
its operating entity Logility, delivers prescriptive demand,
inventory, manufacturing, and supply planning tools – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Serving clients such as Big Lots, Carter’s, Destination XL,
Hostess, Husqvarna Group, Jockey International, Johnson Controls,
Parker Hannifin, Red Wing Shoe Company, Spanx, Dole Fresh
Vegetables, Inc., and Fender Musical Instrument Co, our solutions
are marketed and sold through a direct sales team as well as an
independent global value-added reseller distribution network.
Logility is the only supply chain planning platform leveraging
Generative AI, advanced AI-driven algorithms, and machine learning.
Our engineered approach drives team alignment for over 800
customers in 80 countries with prioritized, value-focused outcomes.
For more information about Logility, please visit www.logility.com.
Logility is a wholly-owned subsidiary and operating entity of
American Software, Inc. (NASDAQ: AMSWA). You can learn more about
American Software at www.amsoftware.com or by calling (404)
364-7615 or email kliu@amsoftware.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. References below to
the company means Logility, Inc. There are a number of factors that
could cause actual results or performance to differ materially from
what is anticipated by statements made herein. These factors
include, but are not limited to, continuing U.S. and global
economic uncertainty and the timing and degree of business
recovery; the irregular pattern of the Company’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of the Company’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect the Company’s future performance. For further information
about risks the Company and American Software could experience as
well as other information, please refer to American Software,
Inc.’s current Form 10-K and other reports and documents
subsequently filed with the SEC. For more information, contact:
Kevin Liu, American Software, Inc., (626) 657-0013 or email
kliu@amsoftware.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230919938437/en/
Investor Contact: Kevin Liu kliu@amsoftware.com (626)
424-1535
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