QAD buys Michigan firm for $5M
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.