NetSuite acquires IQity’s cloud business

NetSuite, a leading provider of cloud-based financials, ERP and omni-channel commerce software suites, has announced that it has acquired IQity’s cloud business.

The acquisition is intended to create a single cloud software system that meets the needs of both discrete and batch process manufacturers of all sizes. The combined strengths of NetSuite and IQity’s deep domain experience can enable manufacturers to manage their business from order-to-cash through build-to-ship.

Founded in 2007 and headquartered in Pittsburgh, Pa., IQity Solutions joined NetSuite’s SuiteCloud Developer Network (SDN) in 2012 as a key solution partner. Leveraging the NetSuite SDN Platform, IQity created the IQity Advanced Manufacturing SuiteApp—natively built on the NetSuite platform—providing NetSuite customers with shop floor, resource capacity planning, finite production scheduling, batch work order management, integrated quality management and advanced data collection capabilities to track actual production results, equipment utilization, labor productivity, downtime, rework and more. At the time of the acquisition, NetSuite and IQity had nearly 40 joint customers.

“As today’s manufacturers face increased global competition, rising customer expectations and digital transformation, they need modern technology solutions to enable them to adapt,” said NetSuite president Jim McGeever. “The combination of NetSuite and IQity arms these companies with a unified, cloud-based system that extends across manufacturing, financial and commerce processes to help transform their business operations.”

“Market pressures on manufacturers have never been greater and legacy, on-premise systems are not sufficient to manage the growing complexity of the business environment,” said IQity Solutions founder Dave Gustovich. “With the acquisition of the IQity cloud business, NetSuite is offering the opportunity to power the next level of business results with a unified system that lets manufacturers focus on product innovation, efficiency and profit margins; not managing a patchwork of disconnected point solutions.”