Illinois Tool Buying Click Commerce For $292 Million

Deal for supply-chain management company expected to be done in fourth quarter.

Illinois Tool Works said Tuesday it will acquire Cick Commerce for about $292 miliion in cash.

The deal, which has been approved by the board's of both companies, is expcted to close in the fourth quarter.

Click Commerce provides on-demand supply chain management solutions for a variety of worldwide industries.

"Click Commerce has built a strong and profitable business working with manufacturing and industrial companies, business segments that we know well," said David B. Speer, chairman and chief executive officer of ITW. "As a part of ITW, the company represents a platform for growth for us. It is well positioned to expand its value-added software solutions to deliver a range of solutions that solve the increasingly-complex problems of today's supply chains."

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