Daily NewsView All News
The owner of vendor management system Click Commerce on Monday announced plans to sell. Staffing Industry Analysts ranked Click Commerce as the largest VMS with total spend under management of $4.64 billion.
Illinois Tool Works Inc., the owner, said it acquired Click Commerce in October 2006, and that it had $67 million in revenue in 2007.
"Click Commerce is another valuable asset that has proven to have a different business model than the typical, industrial-based ITW operation," said Illinois Tool Works Chairman and CEO David Speer. "While we have made significant improvements in the Click Commerce business over the past 18 months, given the valuations for potential acquisitions in this area we believe it would be difficult to grow and achieve sufficient business scale in this software space."