Wrenchead, Inc. Today Announced the Completion of Its Acquisition of Icarz, Inc.
Combination of Wrenchead's award-winning eBusiness and content solutions and icarz's best-in-class distribution management solutions will provide customers with the complete next generation solution suite required to drive their business.
White Plains, NY - August 23rd, 2006 - Wrenchead, Incorporated, a leading ebusiness solution provider to the wholesale distribution and retail markets, today announced it has joined forces with icarz, incorporated, a leading provider of web-based point of sale and warehouse solutions. The company will be named WHI, Inc.
One of the fastest growing software companies in America, WHI, Inc. provides solutions to over 1500 large and small companies in the Automotive, Hard goods and Electrical distribution markets, including over 21 Fortune 500 customers.
Icarz was formed in 2000 to deliver advanced technology to create a competitive advantage in traditional industries. The company offers comprehensive store and distributor management software. Its products are designed to promote connectivity throughout the demand chain, from manufacturer all the way through to the installer or contractor to deliver information and transact business. The company's products are installed at over 1800 Automotive Aftermarket and Hardware/Home Center locations throughout the United States and Canada.
"This merger is part of our continuing strategy to be the leading provider of next generation solutions to manufacturers, wholesale distributors and retailers in the Automotive Aftermarket, Hard goods, and Electrical markets, " said Bryan Murphy, President & Chief Executive Officer of WHI, Inc. "Our customers and partners are going to love the integrated suite of solutions that we now offer. The icarz product portfolio and people are fantastic and will help us consolidate our leadership role in the markets we serve. Our mission is to substantially improve the profitability of our customers and this merger helps us and our customers accelerate the achievement of that goal."
Jesse Hermann, the former icarz President and CEO said, "With the combined experience, skill set and market share created by this deal, the merger of these two market-focused and technology-driven solution providers will undoubtedly result in significant opportunities for both WHI and our customers."
As a combined firm, WHI products and services are used by over 16,500 locations in the Automotive Aftermarket, Hard goods, and Electrical markets to increase their effectiveness and efficiency. Products are specialized for use by manufacturers, warehouse distributors, jobbers, and their customers. Investors in WHI, Inc. include Polaris Venture Partners, MidMark Capital, Goldman Sachs and Starboard Capital.
The company's products enable increased revenue, reduced cost of sales, greater channel efficiency and effectiveness, and automated customer and partner-facing operations. WHI customers include industry leaders such as Wal-mart, CARQUEST, Sears, and AT&T. WHI's clients also include over 1200 Manufacturers including General Motors, Ford, and Federal Mogul. In addition, over 75 software companies worldwide integrate WHI products. WHI is headquartered in White Plains, NY, has offices in California, New Jersey and Connecticut.