Clarus Corporation (Nasdaq: CLRS) says that it has signed a definitive agreement with Epicor Software Corporation (Nasdaq: EPIC) to sell substantially all of its core products and operations in an all-cash transaction for $1 million.

The transaction is expected to close in the fourth quarter of this year, Clarus says. Following the sale, the company will focus on the divestiture of its remaining assets and operations and evaluation of strategic opportunities for it 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, Irvine,CA-based Epicor has agreed to acquire substantially all of Clarus’ assets related to its eProcurement, sourcing, and settlement software products. Clarus and Epicor say they will work closely to smoothly transition the software products and service of customer accounts to Epicor.

Atlanta-based Clarus delivers applications that help companies reduce costs by driving the inefficiencies out of the end-to-end procurement process. The Clarus solutions are designed for production deployment and are built on the Microsoft.NET platform. Clarus solutions are deployed by the likes of the Burlington Northern and Santa Fe Railway Company, Cox Enterprises, MasterCard International and Parsons Brinckerhoff.

Clarus Corp.: www.claruscorp.com

Epicor: www.epicor.com