Forrest Firm Client I-Cubed Makes Key Acquisition
June 5, 2014
Forrest Firm client I-Cubed recently made a key acquisition to fulfill the next phase of its plan to expand its product lifecycle management (PLM) related service offerings. I-Cubed, based in Raleigh, bought Chicago-based Akoya, a provider of supply chain analytics solutions, with the transaction formally announced on March 27.
Celebrating its 30th anniversary this year, I-Cubed has built a successful business through solving complex technical problems for large manufacturing companies. A leading solution provider in the areas of PLM consulting, web experience management, and managed services, I-Cubed has a history of partnering with cutting-edge developers like PTC, Aras, Oracle, Autodesk, and Siemens.
Akoya is a provider of patented analytic software that helps manufacturers reduce product costs by identifying pricing inefficiencies and optimizing supplier management decisions. When integrated with I-Cube’s strengths in PLM, CAD data management, and data migration, the addition of Akoya’s part-costing data analytics and optimization technologies will enhance the customers’ ability to realize significant savings within their supply chains.
Large manufacturers like Caterpillar, John Deere, and Textron have used Akoya’s analytics technology to combine complex information from CAD models of engineered parts with purchasing data, in turn delivering optimized costing and supply chain information to the tune of over $100 million in direct material savings.
The Forrest Firm represented I-Cubed in its acquisition of Akoya.
I-Cubed’s President and CEO, Donald Thompson, believes that the Akoya acquisition makes I-Cubed a more attractive partner for large manufacturers. “Companies are receptive to targeted solutions that help them cut costs,” stated Thompson. “Akoya’s PLM analytics capabilities will help drive customer value by extracting actionable insights directly from the native CAD content, enhancing decision making throughout the supply chain.”
According to Alan Stacklin, Chief Technology Officer at Akoya, the strength of the combined companies will be transformative, not only in cost savings but in the way manufacturers go about the design of their products. “To truly move the needle, cost management needs to be transformed from a post-production task to an integral part of the design process,” said Stacklin. “This transformation will require Akoya analytics to be integrated with the PLM system, so that engineering and purchasing have access to the information they need to make better design and sourcing decisions before the parts go into production. I-Cubed’s expertise in PLM and consulting is a natural fit with Akoya’s transformation needs.”
For more information on I-Cubed’s suite of services, including implementation of Akoya supply chain analytics solutions, visit the company’s website at www.i-cubed.com.
We are grateful to the company for its relationship with the Forrest Firm, and we wish Mr. Thompson and his team continued success.