CIMdata PLM Industry Summary Online Archive

19 June 2007

Acquisitions

Powerway Inc. Acquires Cohesia Corporation

Powerway, Inc ., a leading provider of manufacturing product development process solutions for automotive manufacturers, has significantly expanded its market position with its purchase of Cincinnati-based Cohesia Corporation. This key acquisition extends Powerway's reach into the aerospace and defense sectors and sets up the strategic infrastructure to enable the Company to expand into medical devices, pharmaceuticals, electronics and other complex manufacturing environments.

Cohesia is a software company that provides web-based quality management solutions to companies, such as those in the aerospace industry, which operate in highly complex manufacturing environments. With the acquisition of Cohesia, Powerway gains a much larger footprint in the Project Life Cycle Management (PLM) space. Powerway has added the capability to offer products for companies needing to communicate and ensure compliance both in and across the manufacturing supply chain.

Powerway plans to retain Cohesia's staff and functional facilities in Cincinnati, Ohio. H. Dave Chambliss, Powerway's President and CEO, said, "The best way to leverage our investment is to capitalize and expand on Cohesia's existing product development resources and customer relationships. The strategic fit between our technologies will yield excellent benefits for our customers in the industries we serve. The Cohesia team's knowledge of the aerospace and defense industries and the strength of the Cohesia's technology are well known."

Cohesia CEO, Jim Kanir, sees the acquisition as a win-win for both organizations. "Major changes in the market have propelled the need for Cohesia's solution from a nice-to-have to a must-have product. The Cohesia team is excited to join forces with Powerway, and believes a larger organization can better serve this large and growing market."

Key investors in both organizations have embraced the new Powerway organization and its extended capabilities. Tom Hiatt, Managing Director of Centerfield Capital and Chairman of the Board at Powerway stated, "We believe the combination of these two organizations is powerful and will lead to explosive growth in the PLM extended supply chain market space. This acquisition will not only accelerate Powerway's financial growth, but will also lead to job creation in Indiana, Ohio, and in our satellite offices worldwide." Tim Schigel of Cincinnati's Blue Chip Ventures and Chairman of the Cohesia Board observed, "Both platforms represent the state-of-the-art in product development. The integration creates a new level of needed innovation that will be welcomed in the PLM space."

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