UTTAR PRADESH, India — January 2, 2019— ThreadSol is pleased to announce its acquisition by Coats. ThreadSol will now be a part of Coats Global Services, a dedicated business providing a set of complementary software solutions to the apparel and footwear supply chain to deliver operational benefits in cost, speed and compliance.
The deal, pegged at $12 million, will see a combination of technology and expertise from the two companies which will serve as fuel for taking forward Coats’ vision of building a range of innovative software solutions for the apparel and footwear industries. The deal extends the scale and capability of ThreadSol’s AI and Big-data based solutions. It also expands its services capabilities and consumer reach to a global scale through Coats’ unparalleled global footprint and strong corporate brand.
“This partnership enables ThreadSol to be best positioned to pursue its growth strategy, while accelerating our vision to develop apparel tech of the future.”, says Manasij Ganguli, co-founder at ThreadSol. “It is very exciting to be part of a global industry leader whose stature and array of expertise in the apparel supply chain is exceptional”, he adds.
The innovative solutions by ThreadSol, coupled with Coats’ apparel supply chain solutions will be unsurpassed in the apparel tech space. This rich combination will provide the clients with significant competitive advantage through automated and digitized platforms.
ThreadSol’s products provide an excellent fit with Coats existing Fast React Systems and GSD range of Evolve™, Vision™, Align™, Enterprise™ and Quest™. This complementary suite of software solutions for the apparel and footwear industries will enable brands, retailers and manufacturers to drive productivity gains, supply chain control and speed to market.
Coats’ Group Chief Executive Rajiv Sharma said: “ThreadSol is an exciting acquisition that supports a key aspect of our growth strategy: to build an innovative software solutions business for the apparel and footwear industries. We will be able to draw upon our demonstrable track record of successfully integrating bolt-on companies following the acquisitions of Patrick Yarn Mill, Gotex and Fast React Systems, all of which are performing well under our ownership.”
Posted January 2, 2019