Under the terms of the agreement, Sterling Commerce acquires Yantra's intellectual property, equipment and more than 250 employees who will continue the global expansion of Yantra's business. Sterling Commerce will operate the company as a new business division headed by Devdutt Yellurkar, formerly Yantra's CEO.
"With this strategic acquisition now complete, Sterling Commerce is accelerating its growth due to the strong market acceptance of Yantra's supply chain products, and the company's increasing blue chip customer base, including Best Buy, DHL, Gap, Staples, and Circuit City," said Sam Starr, president and CEO of Sterling Commerce. "The Yantra offering represents the logical progression of Sterling's multi-enterprise collaboration strategy to enable seamless business processes between organizations and applications."
Sterling Commerce will offer the integrated set of composite applications both as a software solution and hosted service to a broad spectrum of vertical industries including retail, consumer packaged goods, transportation, distribution, manufacturing, communications and electronics.
Yantra Corporation is a leading provider of solutions for Fulfillment Excellence. Yantra's Synchronized Fulfillment Solutions deliver real-time, intelligent execution between the customer, operations, partners and the supply chain. Privately held and headquartered outside of Boston, Massachusetts, Yantra focuses on retail, wholesale distribution, logistics and manufacturing vertical industries, and works with world-class companies such as Argos, Best Buy, Circuit City, DHL, Dixons, FedEx, Motorola, SYSCO Corporation, Target, Texas Instruments and Thomson. For more information call 888-2-YANTRA or visit www.yantra.com.
Sterling Commerce, a wholly owned subsidiary of SBC Communications Inc., is one of the world's largest providers of multi-enterprise collaboration solutions. For three decades, thousands of companies, including the majority of the Fortune 500, have depended on Sterling Commerce expertise to extend processes beyond the edge of the enterprise to enable visible business with suppliers, customers, partners and employees. With more than 29,000 customers worldwide, Sterling Commerce builds collaborative, multi-enterprise communities for customers in the retail, consumer packaged goods, manufacturing, financial services, healthcare and telecommunications industries. For detailed, up-to-date information on Sterling Commerce and its solutions, visit www.sterlingcommerce.com.
SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves more than 46 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also now offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com.