to put itself up for sale, calling the Canadian software company a high quality asset that many buyers would pay a “healthy premium” to own.
Kinaxis’ problems are not related to its products nor the market, Daventry wrote in a letter seen by Reuters, noting that it sells some of the “stickiest software in the world.” “The Board should immediately initiate a sale process and allow another organization, whether a strategic or financial sponsor, that understands how to scale a software business to finally unlock Kinaxis’s value and capitalize on its strong competitive positioning,” the letter said.Daventry Group LP, which together with its affiliates, beneficially owns or controls approximately 1.4 per cent of the outstanding stock of Kinaxis Inc.