3M to sell HighJump Software for undisclosed sum

Diversified technology company 3M (NYSE:MMM) announced on Friday (9 May) that the company has entered into a definitive agreement to sell HighJump Software, the company's business unit and a provider of flexible supply chain execution software and services, to Battery Ventures, a technology venture capital and private equity firm. Upon completion of the transaction, a stand-alone company will be formed focused on providing supply chain solutions to a global customer base.

Terms of the transaction, which is expected to close in the second quarter, were not disclosed.