|
EAST RUTHERFORD, NJ, March 9, 2011 -- Management
Dynamics, a leading provider of
Global Trade Management (GTM)
solutions, today announced that
Goldman, Sachs & Co. (NYSE: GS)
has invested in the company.
Gene Yoon, a Managing Director
at Goldman, Sachs & Co., has
also joined Management Dynamics'
Board of Directors.
"Our strong revenue growth and
sharp increase in deal size over
the past several years show that
Global Trade Management has
become a mainstream
application," said Jim
Preuninger, CEO of Management
Dynamics. "We plan to use the
funds from Goldman to make a
strategic acquisition to expand
our product portfolio and
further distance ourselves from
the competition."
As global trade volumes
increase, organizations are
looking for ways to reduce
global supply chain costs and
shorten cycle times.
Management Dynamics' solutions
simplify the financing, sourcing
and transporting of goods across
international borders. Its
software automates import and
export processes, provides
global order and shipment
visibility, calculates duties,
tariffs and taxes, and ensures
regulatory compliance.
"Collectively, companies have
already spent billions of
dollars improving processes and
deploying technologies to
optimize their domestic supply
chains," said Mr. Yoon. "Senior
executives are now realizing the
opportunity for cost savings and
competitive advantage in the
global supply chain. With many
of the largest companies in the
world using its software today,
Management Dynamics is well
positioned to take advantage of
this opportunity. We believe
Management Dynamics is an
excellent investment."
"We are delighted to add Mr.
Yoon to our Board of Directors,"
continued Mr. Preuninger. "His
successful track record speaks
for itself. He knows what it
takes for a company to
successfully navigate growth,
and at this stage in our
evolution, his counsel will be
invaluable."
|
