Delivered August 16, 2020. Contributor: Subhodeep M.
To understand the M&A activities in the Supply Chain software market in the past 10 years, beginning with the news of the acquisition of Verify Brand by OPTEL Group.
Overview of OPTEL GROUP and Verify Brand
OPTEL GROUP is a Certified B Corporation and a leading global supplier of supply chain traceability systems. OPTEL GROUP was founded in 1989 and has its headquarters in Québec City, Canada, with facilities in Brazil, Ireland, and India.
Verify Brand was founded in 2004 and is a leading supplier of serialization and traceability software that helps companies secure their revenue streams, eliminate fraudulent activity along the supply chain, and safeguard brand reputation.
Verify Brand's Acquisition by OPTEL GROUP
On December 7, 2017, OPTEL GROUP announced that it was expanding its traceability offering by acquiring Verify Brand. However, OPTEL did not disclose the amount it paid to acquire Verify Brand.
The deal allowed OPTEL to complete its traceability offering, provide end-to-end solutions, and expand its portfolio. Louis Roy, the President of OPTEL GROUP, said that the acquisition was as per OPTEL's plans to increase its customers' performance and build a sustainable economy by optimizing its supply chains.
The addition of the L4/5 serialization capabilities of Verify Brand to OPTEL's solution set gives pharmaceutical companies the connectivity required to implement Track & Trace program across the entire supply chain (L1 to L5).
Michael Howe, the CEO of Verify Brand, commented that combining OPTEL’s Track & Trace capabilities with Verify Brand's flexible serialization platform will enable companies to get end-to-end visibility in supply chain.
OPTEL GROUP said that the acquisition will enable customers to automatically analyze the big data generated throughout the supply chain and let them transition smoothly to the fourth industrial revolution, also known as the digitization of manufacturing.