The company will continue to operate under the Kiwiplan name and maintain its current global staff and New Zealand-based development team. While the transaction is expected to be transparent to Kiwiplan's many customers, the company will benefit from the strength and worldwide presence of ITW.
Steve Cole, senior vice president of strategy for Click Commerce, the ITW business unit that managed the acquisition says, "We are delighted to welcome Kiwiplan to the ITW family of companies. Kiwiplan has an excellent management team, a strong product delivery history and a leadership position in its market. We look forward to working with the Kiwiplan team to continue to serve their customers and expand both the products offered and the markets that they serve."
Jim Walton, formerly President of Kiwiplan Americas, has been appointed general manager of Kiwiplan and will have responsibility for the company's global operations including offices in the United States, New Zealand, Australia, Germany, and the United Kingdom. "The acquisition of Kiwiplan by ITW is good news for our customers and our employees," said Walton. "Joining with ITW ensures that we'll be able to maintain the same high levels of service and product leadership that our customers have come to expect from us while giving our employees the security of working for one of the world's most admired companies."
SVB Alliant acted as financial advisor and Bell Gully of Auckland, New Zealand acted as legal counsel to Kiwiplan; Merrick Venture Partners provided acquisition advisory services and Quigg Partners of Wellington, New Zealand, acted as legal counsel to ITW in this transaction.
