FreeMarkets’ Surprise Acquisition of Adexa Leaves Many Heads Shaking
Steve McVey - March 1, 2001

Event Summary

In a move that stunned many in the IT community, auction site enabler FreeMarkets agreed to acquire supply chain management software vendor Adexa for $340 million in stock. A privately held company, Adexa had been preparing an initial public offering since last year, one that most industry analysts predicted would be successful. With annual revenues of $50 million, Adexa might have been expected to achieve a valuation of up to $1 billion as a publicly traded company...