Indianapolis-based manufacturing supply chain software maker Powerway Inc. said today that it has bought Cohesia Corp., a Cincinnati firm that makes software for Web-based manufacturing quality control, primarily for the aerospace industry. Terms were not disclosed.
Powerway's primary business is providing software for automakers, particularly the North American Big Three. Powerway plans to retain Cohesia's staff and facilities in Cincinnati.
The acquisition is the first major move at Powerway for CEO H. Dave Chambliss since he was hired in January.
Founded in 1985, Powerway was long considered one of Indianapolis' most promising software-makers. In the late '90s, it brokered a $53.4 million government incentives package when it expected to add 2,000 employees to its headcount of 250. The company also hinted at a possible initial public offering.
But after the dot-com bubble burst, Powerway struggled-particularly after losing Ford and General Motors as customers. The company reported it had 65 employees earlier this year.