Transaction

• In June 2008, 3M divested its HighJump Software subsidiary to Battery Ventures in an all-cash transaction.
• Financial terms were not disclosed.

Company

• HighJump Software provides industry-leading, supply chain execution solutions across a broad range of industries. The Company’s solutions consist of software, services, and hardware that enable customers to optimize their supply chains throughout the entire product lifecycle from sourcing to consumption. HighJump Software was a wholly owned subsidiary of 3M Company.
• Battery Ventures is a private equity firm focused on technology investments. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from start-up and expansion financing, to growth equity and buyouts. From offices in Boston, Silicon Valley and Israel, Battery Ventures manages nearly $3 billion in committed capital, including its current fund of $750 million.

Result

• Divestiture allows 3M to focus on its core business.
• Acquisition provides Battery Ventures with a platform company with a premium brand name and industry-leading solutions.