I-Cubed, a 31-year-old Raleigh firm that focuses on helping manufacturing firms solve technical problems and product lifecycle management solutions, has acquired Akoya, a Chicago company focused on supply chain analytics with some high-profile customers.
Financial terms of the deal were not disclosed.
The acquisition is part of continuing expansion by I-Cubed, which plans to add substantially to its headcount.
Earlier this month, I-Cubed announced an expansion of its headquarters at N.C. State’s Centennial Campus. The firm has some 120 employees, an expansion of 30 percent over the past year.
“Companies are receptive to targeted solutions that can help them cut costs. Akoya’s PLM [product lifecycle management] analytics capabilities will help drive customer value by extracting actionable insights directly from the native CAD content, enhancing decision making throughout the supply chain,” said I-Cubed CEO, Donald Thompson Jr. in announcing the deal Thursday.
Akoya customers include Caterpillar, John Deere and Textron.
According to I-Cubedm Akoya clients have saved over $100 million through use of Akoya’s analyitics.
The deal will mean a “significant expansion” to I-Cube’s offerings, the company said.
“I-Cubed will help Akoya round out its offering of a comprehensive end-to-end supply chain analytics solution while accelerating their discrete manufacturing customers’ ability to achieve measurable savings,” said Akoya Chief Technology Officer Alan Stacklin.