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Date Posted: 8/13/2003

Made2Manage Systems Finalizes Acquisition by Battery Ventures

 
 
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INDIANAPOLIS--(BUSINESS WIRE)--Aug. 8, 2003--Made2Manage Systems Inc., a leading provider of enterprise software for small and midsize manufacturers and distributors, announced that its proposed merger with an affiliate of Battery Ventures VI, L.P. was finalized today. The cash transaction aggregated $30 million and represents a final price per share outstanding of $5.73. With the close of this transaction, the company has completed its transformation to a private company after six years of being publicly traded on the NASDAQ stock exchange under the MTMS symbol.

Battery Ventures is a leading venture capital firm focused on continuing its 20-year history of successfully investing in technology companies. The company leverages its people and expertise to manage $1.8 billion in committed capital.

"This transaction marks an important milestone in Made2Manage Systems' history--one that will certainly benefit all our constituencies, including stockholders, employees and customers," said Dave Wortman, CEO of Made2Manage Systems. "Our relationship with Battery Ventures brings new opportunities and added resources to our business, and we look forward to great success."

Made2Manage Systems' customers support Wortman's sentiments. "We're excited about Made2Manage Systems' deal with Battery," said Mark Danly, vice president of manufacturing for Illinois-based Diamond Machine Werks. "We purchased the Made2Manage® Enterprise Business System because it is a flexible solution that caters to the unique enterprise needs of our high tech machinery business. Ultimately, we see this merger as bringing positive additions to a product in which we have already invested."

About Battery Ventures

Battery Ventures is a leading venture capital firm focused on investing in technology companies at all stages of growth. With a team of over 30 experienced investment professionals, Battery leverages its people, expertise and capital to actively guide companies to category dominance. The firm has invested in over 160 technology companies worldwide across the communications, software, infrastructure, and media and content industries. From its offices in Wellesley, Mass., and San Mateo, Calif., the partnership manages over $1.8 billion in committed capital. The firm's exceptionally strong investment returns have given it one of the best track records in the industry.

About Made2Manage Systems Inc.

Made2Manage Systems delivers a comprehensive enterprise business system designed specifically for the unique needs of small and midsize manufacturers and distributors. The company's extensible, end-to-end solution and award-winning customer services are designed to evolve with a manufacturer's individual business environment while protecting the original technology investment. Real-time scheduling and information retrieval capabilities help manufacturers maximize shop floor throughput and profitability, communicate more effectively with business partners across the supply chain, and quickly access meaningful data to make critical business decisions. With more than 25,000 licensed users, Made2Manage works with discrete manufacturers and distributors servicing a variety of industries, including fabricated metals, industrial and commercial machinery, electronics, and rubber and plastics products. Visit the Made2Manage Systems Web site at www.made2manage.com. Made2Manage Systems may be reached via e-mail at info@made2manage.com or by calling (800) 626-0220.



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Contact:
Made2Manage Systems Inc.
Traci M. Dolan, 317/249-1327
ir@made2manage.com
www.made2manage.com



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Source: Made2Manage Systems Inc.
 
 


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