EL SEGUNDO, Calif. (May 15, 2002) — CarParts Technologies Inc., a provider of e-commerce software for the automotive aftermarket, has acquired Pittsburgh-based OpenWebs Corp.
OpenWebs developed the peer-to-peer Intelligent Trading Network software for the tire industry, which is designed to help retailers, distributors and manufacturers locate, buy and sell products with each other. The acquisition allows El Segundo-based CarParts to enter a technology supplier relationship with Michelin North America Inc. for the Intelligent Trading Network software.
“CarParts Technologies was founded with a vision of revolutionizing the automotive aftermarket extended supply chain,” said CarParts Chairman Alan Bennett. “The addition of OpenWebs Intelligent Trading Network software to our solutions portfolio underscores our belief that P2P-based e-business solutions are a tremendous area of growth in the aftermarket industry.”
Intelligent Trading Network creates a virtual inventory across the distribution channel that allows product requests to be fulfilled in minutes while reducing the need to maintain excess inventory, CarParts said. Besides Michelin, CarParts also supplies point-of-sale technology for Fountain Tire in Canada.
"We are excited about the potential these combined companies will now offer our customers," said Pete Selleck, chief operating officer of Michelin Americas Small Tires. "We recognize the added value of this technology to our distribution channel customers and look forward to working with CarParts Technologies to continue our leadership in this segment."
Most of OpenWebs' former staff of 20 employees have joined with CarParts and will continue to operate in Pittsburgh, the company said. The deal marks CarParts' third acquisition in two years.