ClearOrbit to Become a Division of TAKE Solutions

Filed in archive merger and acquisition on June 26, 2007

TAKE Solutions, Inc. and ClearOrbit, Inc. yesterday jointly announced that TAKE Solutions has acquired ClearOrbit, a leading supply chain execution and reverse logistics solutions provider. The acquisition will enable TAKE Solutions to form a new U.S.-based supply chain management division with international reach. privately-held TAKE Solutions is a business software and services company that delivers world-class life sciences and supply chain management solutions throughout global markets. Terms of the deal have not been disclosed.

The new division will retain the ClearOrbit brand name. It will combine ClearOrbit with TAKE Solutions' existing Supply Chain Management (SCM) division, which offers an array of innovative products and services allowing customers, partners and suppliers to collaborate online, reduce costs and decrease time-to-market. John Reece, President and CEO of ClearOrbit, will serve as President of the SCM division of TAKE. The existing ClearOrbit management team will continue to report to Reece, with the addition of G. Ramesh, General Manager of TAKE Solutions SCM Asia/Pacific Division. The impact on ClearOrbit's existing organizational structure is expected to be minimal.

"This transaction provides a truly outstanding fit between two highly compatible organizations," said Ram Yeleswarapu, President and CEO of TAKE Solutions. "ClearOrbit's excellent personnel, brand name and products, coupled with TAKE Solutions' access to international markets and expanded resource pool, will allow us to reach new heights. The combined organization, led by John Reece and a strong management team, is well positioned to capitalize on the exciting global opportunities this transaction enables."