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QAD buys Michigan firm for $5M

By   /   Monday, December 31st, 2012  /   Comments Off on QAD buys Michigan firm for $5M

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Santa Barbara-based manufacturing software firm QAD said Dec. 31 that it purchased Michigan-based Cebos for $5 million in cash.

QAD sells planning and management software used by large manufacturing firms around the world. Cebos provides management and regulatory compliance software.

QAD will pay $3.5 million upon closing the deal and then $1.5 million subject to an earn-out agreement.

Cebos had revenue of $4.5 million this year and has 33 employees. It was founded in 1995.

Bob Herdoiza, CEO of Cebos, will lead QAD’s new Cebos division.

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