The Channel logo

News

By | Brid-Aine Parnell 30th October 2012 11:38

JDA Software looking to sell itself, they do say

Seeking friend, solvent, gsoh, for discreet transaction

Enterprise tech firm JDA Software is rumoured to be trying to sell itself, hiring JPMorgan Chase to look for those who might be willing to gobble it.

Sources told Reuters that the sale process was at an advanced stage and both private equity and tech firms were interested in the company.

JDA's financial results for 2011 came under scrutiny from the Security and Exchange Commission's division of Enforcement and Corporation Finance, which was looking into accounting matters in the statement. Although the probe found "no evidence of fraud or intentional wrongdoing", JDA had to restate different parts of its results from 2007 to 2011.

The firm said in a filing that an internal audit showed that it had to change its "revenue recognition". The changes didn't actually affect the total revenues JDA had made but some of the earnings had been reported in the wrong quarters, it said.

Current investors in JDA include Praesidium Investment Management Company, BlackRock, The Vanguard Group and Ameriprise Financial. ®

comment icon Read 1 comment on this article alert Send corrections

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany
Inside the Google Lab where surgeons prepare the human/dog experiment
Big Blue exec tells El Reg what to keep an eye on