Tuesday, April 22, 2008

iTradeNetwork, Instill Corp Merge

Pleasanton-basd iTradeNetwork, a developer of software for the food industry, and San Mateo-based Instill Corp., said Monday that the two companies are in an agreement to merge. Financial terms of the merger were not announced, however the firms said that the merger was facilitated by Accel-KKR, which is a majority owner of iTradeNetwork. Robert Bonavito of iTradeNetwork will become CEO of the combined companies, and Instill will become a separate division. Both firms develop software for the food service and related industries.