AUSTIN, Texas, Jan. 26, 2017 /PRNewswire/ -- In its third quarter, E2open added 5 new clients, experienced tremendous subscription revenue growth, and delivered record-setting profitability. These third quarter results reflect four consecutive quarters of profitability for the 15-year old company. Growth was well balanced across all product portfolios, regions, and industries.
E2open also announced the success of its recent acquisitions of Terra Technology and Orchestro, as demonstrated by four customer expansions which have integrated multiple E2open product lines to form broader solution sets. E2open's Demand Sensing algorithms, combined with daily Point-Of-Sale data from hundreds of retailers, can create forecasts that are 30-40% more accurate than mainstream forecasting systems.
Finally, E2open announced the expansion of its Austin headquarters, adding significant space for staff growth, as well as for the buildout of a world-class training facility for customers and partners.
"When we acquired Terra and Orchestro, we envisioned an end-to-end solution from point-of-sale through raw materials," said E2open CEO Michael Farlekas. "We have made that vision a reality even more quickly than we expected, our customers have responded, and this demand is reflected in our financial performance. E2open has emerged as the premier cloud-based supply chain company focused on the world's largest and most complex supply chains."
Founded in 2000, E2open provides the largest and most comprehensive Supply Chain Operating Network, including a broad suite of collaborative supply chain solutions. Leading global enterprises rely on E2open to provide greater end-to-end visibility, more accurate data and insights, and real-time business process orchestration across complex, multi-enterprise trading partner networks. For more information, visit www.e2open.com.
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