E2open Parent Holdings Inc. , a provider of cloud-based supply chain management technology, said Thursday it is acquiring BluJay Solutions in a stock-and-cash deal valued at about $1.7 billion. BluJay is a software-as-a-service company for the shipping, logistics and freight forwarding businesses with more than 5,700 global customers. Under the terms of the deal, E2Open will pay with 72.4 million shares and $760 million in cash. BluJay shareholders will own about 22% of the combined company and its current shareholders, Francisco Partners and Singaporean sovereign wealth fund Temasek will have the right to appoint one director each to the board. E2open has also secured $300 million in a common equity PIPE, or private investment in public equity, from institutional investors including Berman, The WindAcre Partnership, Eminence Capital and XN, as well as a first lien term loan of $380 million. The deal is expected to close in the third quarter. It is expected to deliver annualized pro forma revenue of over $550 million. E2open shares were up 3% premarket and have gained 20% in the year to date, while the S&P 500 has gained 11.7%.
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