Clarus Corporation announced it has signed a definitive Asset Purchase Agreement with Epicor Software Corporation to sell substantially all of its core products and operations in an all cash transaction for a purchase price of $1 million. The transaction is expected to close in the fourth quarter of this year. Following the sale, the Company will focus on the divestiture of its remaining assets and operations and evaluation of strategic opportunities for the Company’s resources.
The Clarus board of directors has unanimously approved the proposed sale. The acquisition is subject to approval of the Clarus stockholders and other customary conditions. Under terms of the agreement, Epicor has agreed to acquire substantially all of Clarus’ assets related to its eProcurement, sourcing, and settlement software products. Clarus and Epicor will work closely to smoothly transition the software products and service of customer accounts to Epicor.
About Clarus
Atlanta-based Clarus Corporation () delivers applications that help companies reduce costs by driving the inefficiencies out of the end-to-end procurement process — from sourcing, to procurement, to settlement. The Clarus solutions are designed for rapid production deployment and are built exclusively on the Microsoft.NET platform, making them easy to implement, manage, and integrate with existing IT infrastructures. Clarus solutions are deployed globally at customer sites including: the Burlington Northern and Santa Fe Railway Company, Cox Enterprises, MasterCard International, Union Pacific Corporation, Smurfit-Stone Container Corporation, and Parsons Brinckerhoff.
