Ariba Completes Acquisition of Procuri – Ariba, Inc. (Nasdaq: ARBA) today announced that it has completed the acquisition of Procuri, Inc. a privately-held provider of on-demand supply management solutions. With the acquisition, Ariba extends its position as the leading provider of spend management solutions to companies of all sizes.
SUNNYVALE, Calif., December 17, 2007
“The acquisition of Procuri is a very positive step for Ariba that builds upon our successful on-demand strategy,” said Bob Calderoni, CEO, Ariba. “On-demand is the fastest growing segment in the spend management market, and Ariba is the clear leader with its share of more than 40 percent. By working to integrate Procuri’s offerings into our already robust portfolio of solutions in the months ahead, we can further extend our leadership and deliver on our promise to make spend management available and affordable to all companies.”
Originally announced on September 20, the acquisition of Procuri also provides Ariba with extensive experience in delivering on-demand solutions and strength in selling software-as-a-service that will enable Ariba to accelerate the growth of its subscription software business.
“Procuri had great success selling to both the enterprise and the mid-market, accumulating over 300 customers with nearly 70 percent of them under $5 billion in revenue,” Calderoni continued. “Software-as-a-service is something they did from day one, and with that comes a lot of know-how about how to successfully go to market with these types of solutions. Clearly this is something we can leverage at Ariba to fuel continued growth of both our revenue and market share.”
About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management™ software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com
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