i2 Technologies Inc. [ITWO] said late Wednesday that it is in talks with at least two other parties about a possible sale of the supply-chain management software maker. While the parties "continue to show credible interest" in a deal, discussions are preliminary and could fail, i2 said.

In a conference call to discuss the company's strategic review, new executive chairman of the board Jackson Wilson said i2's board of directors unanimously agreed that a sale is best alternative for the company, although he would provide no time frame for when the process will be complete.

Wilson replaces company founder Sanjiv Sidhu, who stepped down as chairman of the board on Wednesday,  though he will remain chairman emeritus and on the board. Wilson has been a board member since 2005 and chairman of the strategic review committee. Shares of i2 were up 3% in after-hours trading. At Wednesday's closing price of $11.04, i2 has a market capitalization of $236.8 million. -- David Shabelman

See May 7 statement from i2 Technologies