ThreadSol becomes a part of Coats after a $12Mn acquisition
ThreadSol the pioneer in AI and Big Data-based fabric management solutions for the apparel industry, is pleased to announce its acquisition by Coats, the world’s leading industrial thread manufacturer. 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 benef
- (1888PressRelease) January 03, 2019 - ThreadSol the pioneer in AI and Big Data-based fabric management solutions for the apparel industry, is pleased to announce its acquisition by Coats, the world’s leading industrial thread manufacturer. 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 EvolveTM, VisionTM, AlignTM, EnterpriseTM and QuestTM. 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.
Rajiv Sharma, Group Chief Executive, Coats, 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.’
About ThreadSol:
ThreadSol Softwares was established in 2013 to Challenge the Present of manufacturing industries.
Our solutions: intelloCut, intelloBuy and intello3C, are built on AI and Big Data technologies and aim to boost topline and bottomline for apparel brands and manufacturers.
The solutions have already set standards amongst apparel industry tech solutions worldwide.
With over 150 success stories around the world, ThreadSol is a name synonymous with consistent material saving and sustainable profit, providing incredible benefits to the customers.
For more information, visit www.threadsol.com
About Coats:
Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in more than 50 countries, Coats employs 19,000 people across six continents. Revenues in 2017 were US$1.5bn.
Coats’ pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Performance Materials threads and yarns in areas such as automotive, composites and fibre optics; and extending the crafts offer into new markets and online.
Headquartered in the UK, Coats is a FTSE 250 listed company on the London Stock Exchange. It is the Official Thread Supplier to the Royal Shakespeare Company.
• Each year we make enough thread to go into 8 billion pairs of jeans – that is one for every person on the planet
• Every month Coats produces enough thread to stretch all the way to the sun
• More than 450 million pairs of shoes are made every year using Coats’ thread
• More than 100 million car airbags are made using Coats’ Performance Materials thread every year
• In 1879 Thomas Edison used Coats’ thread in his experiments to invent the light bulb
• Our Red Heart knitting and crochet yarn brand has been named ‘America’s Most Recommended’ by the Women’s Choice Award for three years running
• Our flame retardant Performance Materials threads can withstand temperatures as high as 1,000 degrees Celsius
To find out more about Coats visit www.coats.com
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