E2open and CC Neuberger Principal Holdings I Complete Business Combination
Transaction Introduces E2open as a Publicly Listed Company on the New York Stock Exchange Under Symbol “ETWO”
E2open, a leading provider of supply chain management software, and CC Neuberger Principal Holdings I, a special purpose acquisition company, announced that they have completed their business combination. The transaction has been unanimously approved by the board of directors of CC Neuberger Principal Holdings I and was approved at a special meeting of CC Neuberger Principal Holdings I shareholders on February 2, 2021. The common stock of the combined company will trade under the symbol “ETWO” on the New York Stock Exchange, beginning February 5, 2021. Michael Farlekas, who has served as CEO of the Company since 2015, will continue to lead the business.
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E2open is a leading end-to-end and cloud-based supply chain management SaaS platform. The Company’s software solutions orchestrate complex global supply chains and drive compelling value and ROI for its diverse and sophisticated blue-chip customers. Additionally, E2open benefits from attractive secular tailwinds as companies endeavor to accelerate growth, reduce costs, increase visibility, and drive improved resiliency across their supply chains in an increasingly complex global economy. The Company’s software combines networks, data and applications to provide a deeply embedded, mission-critical platform that allows customers to optimize their supply chain across channel shaping, business planning, logistics, global trade, manufacturing and supply management.
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“We are pleased to complete our business combination with CC Neuberger Principal Holdings I and begin our next chapter as a public company,” said Mr. Farlekas. “I am incredibly proud of the work our team is doing to help our customers reduce costs and accelerate revenue using our supply chain management software solutions. Leveraging our recapitalized balance sheet and the significant experience of the CC Capital, Neuberger Berman, Insight Partners, and Evergreen Coast Capital Corp. (the private equity affiliate of Elliott Investment Management L.P.) teams, we believe E2open is poised to accelerate its growth and capitalize on the significant opportunities to generate substantial value for all stakeholders.”
“As an industry-leading cloud technology platform, E2open is positioned to benefit from increased demand for supply chain management software solutions going forward,” said Chinh Chu and Douglas Newton, Co-Founders and Senior Managing Directors of CC Capital, as well as Charles Kantor, Senior Portfolio Manager of Neuberger Berman. “We are excited about E2open’s opportunity for organic growth acceleration and strategically accretive acquisitions, and believe the Company has a long runway for value creation as a publicly traded company.”
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