Software maker QRS to be acquired by Inovis; JDA deal terminated

<p>QRS Corp., a maker of supply-chain software for retailers, Friday said it agreed to be acquired by privately held Inovis International Inc. for $116 million, after calling off a deal to be acquired by JDA Software Group Inc.</p><p>Under the agreement, expected to close late this year, Inovis, a maker of Internet commerce software based in Alpharetta, Ga., will pay QRS shareholders $7 for each of QRS's 15.9 million shares outstanding.</p><p>The offer represents a 10 percent premium to Thursday's closing price of $6.35 on the Nasdaq.</p><p>QRS, based in Richmond, Calif., will pay JDA Software a $3.75 million breakup fee.</p><p>QRS' products are used by retailers to manage electronic documents and keep track of inventory information.</p><p>The company has been looking for a merger partner for the past year after watching its stock slide 40 percent from last November. QRS directors and officers have approved the offer.</p><p>QRS' merger deal with JDA, announced in June, offered one JDA share for two QRS shares. It was called off as shares of JDA slid.</p><p>In afternoon trading, shares of QRS rose 49 cents, or 7.7 percent, to $6.84, on the Nasdaq Stock Market.</p><p>JDA shares were at $10.25, down 25 cents, or 2.4 percent.</p>