BURLINGTON, Mass., June 19, 2003 - Emptoris, Inc., a leading provider of sourcing solutions that support the end-to-end strategic sourcing needs of Global 5000 companies, today announced that it has been named “Company of the Year” by the Massachusetts Interactive Media Council (MIMC) at its 2003 Leadership Awards ceremony. MIMC honors the top New England technology companies and leaders that have impacted the development and advancement of innovative solutions, technologies and organizations.
Emptoris was named “Company of the Year” as a result of its achievements during the past year, including strong revenue growth, a $20 million round of funding, numerous customer wins with Fortune 1000 companies, strategic partnerships, and an important product upgrade. Award winners were evaluated based on MIMC’s criteria that requires industry leaders to possess strong executive management teams and creative business strategies, as well as make the best use of Internet technology for innovation. MIMC is New England's premier association for thought leadership, technology trends, building business relationships and professional training and development.
“Based on its many accomplishments during the past year, we are happy to honor Emptoris as our ‘Company of the Year’ for 2003,” said Leslie Cushing, executive director of MIMC. “The MIMC Leadership Awards honor those New England companies that have made the biggest impact on their respective industries or markets, and it is clear that Emptoris is a business leader worthy of recognition in its use of Internet technology to help companies lower costs, speed time-to-market and improve supplier relationships.”
Emptoris develops Internet-based sourcing software that enables companies to automate all strategic sourcing processes and determine the optimal allocation of business among suppliers. During the past year, Emptoris announced a number of major customer wins, including Motorola, GlaxoSmithKline, Exostar, and Syngenta. In January, the company raised $20.5 million in a third round of funding. In addition, Emptoris recently announced a partnership with Cap Gemini Ernst & Young, to deliver integrated E-Sourcing best practice packs that enable companies to jump-start their electronic sourcing programs. Last November, Emptoris released the latest version of its suite of e-sourcing solution, the Emptoris Sourcing Portfolio.
“I would like to thank MIMC for recognizing Emptoris’ significant achievements during the past year and awarding us with this prestigious honor,” said Avner Schneur, Emptoris CEO. “I also need to thank everyone at Emptoris who has helped the company carve out a leadership position in the rapidly expanding strategic sourcing market. This award further validates our strong momentum and recognizes the hard work, service and commitment of the people at Emptoris.”
About MIMC
The Massachusetts Interactive Media Council (MIMC) is a trade organization that accelerates business opportunities and professional development for those interested in leveraging Internet technologies. Serving over 2,500 members from multiple industries, MIMC is the region's premier association for thought leadership, technology trends, building business relationships and professional training and development. For both large and small companies, MIMC offers various forums, promotional opportunities and award recognition programs to develop business opportunities. Holding over 50 events each year, MIMC also offers its members the chance to promote their companies to targeted audiences through sponsorships, speaking opportunities and networking. For addition information, please visit www.mimc.org.
About Emptoris
Emptoris is a leading provider of sourcing solutions that support the end-to-end strategic sourcing needs of Global 5000 companies. By implementing the Emptoris Sourcing Portfolio, a suite of Web-based sourcing solutions, enterprises can quickly deploy sourcing best practices across the enterprise, automate all strategic sourcing processes and determine the optimal allocation of business among suppliers. Key benefits include lower costs, shorter sourcing cycle times and better internal sourcing expertise. Emptoris, a privately held company, is headquartered in Burlington, Massachusetts. For additional information, please visit www.emptoris.com.
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