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EMPTORIS
ACQUIRES LEADING SPEND ANALYTICS COMPANY ZEBORG
Acquisition
Positions Emptoris as the Leading
Strategic Sourcing Software Provider
BURLINGTON,
Mass., September 15, 2003 - Emptoris, Inc., a
leading provider of sourcing solutions that support the end-to-end
strategic sourcing needs of Global 5000 companies, today announced
the acquisition of Zeborg, the world’s leading spend analytics
firm. As a result of the acquisition, Emptoris, with more than
50 Global 5000 customers, and top-rated sourcing applications and
services, is now positioned as the leading strategic sourcing software
provider in the procurement and sourcing applications market, a
$1.7 billion technology segment according to industry analysts.
“The acquisition of Zeborg enables Emptoris to rapidly accelerate
its revenue growth – doubling our size overnight – while
helping us expand into new vertical markets, such as financial
services and retail, and offering our customers a complete set
of services and solutions for their strategic sourcing needs,” stated
Avner Schneur, President and CEO, Emptoris. “The powerful
combination of Zeborg’s software for analyzing how much and
why companies spend money with suppliers, and Emptoris’ leading
strategic sourcing capabilities, will help industry-leading companies,
such as GlaxoSmithKline, American Express and Motorola, make the
best supply- management decisions and realize millions of dollars
in cost savings.”
Specifically, Emptoris will benefit from the Zeborg acquisition
in several important ways:
- It
positions Emptoris as the largest company dedicated to the strategic
sourcing software market.
- A broader market opportunity, a larger sales organization,
and significant cross-selling opportunities to Global
1000 customers means the company is well positioned to
achieve over
50% revenue
growth in 2004.
- The addition of several marquee financial customers makes Emptoris
the leading provider of e-sourcing
solutions for the financial
services industry.
- “It [Zeborg] is the dominant sourcing software and services
vendor in Financial Services, particularly in the area of spending
analysis, where its ExpenseMap product really shines”.
Pierre Mitchell, AMR Research Alert, March
7, 2003.
More importantly, Emptoris customers will also benefit greatly
for the following reasons:
- Tight
product integration, to be completed over the next few months,
will enable Emptoris customers to achieve additional
cost savings by providing the ability, through one application,
to identify and prioritize sourcing savings opportunities,
develop best practice strategies to capture the savings, quickly
execute
sourcing activities designed to reduce the total cost
of ownership of goods and services sourced, and track compliancy
to ensure
savings are captured in accordance with corporate sourcing
goals and policies.
- Expanded sourcing domain expertise will enable Emptoris customers
to achieve quick ROI with turnkey sourcing solutions.
- New technologies and an expanded development group will enable
the company to maintain a functional
leadership position and
set new industry benchmarks that will drive incremental
customer value.
In addition to acquiring Zeborg’s software and services
offerings, Emptoris will inherit the company’s sales team
as well as Global 1000 clients from a wide range of industries,
including seven of the world's largest banking and financial
services companies. Zeborg’s customers include American
Express, Cigna, Fleet Boston Financial Corporation, KeySpan,
and Owens Corning. Zeborg has processed over $480 billion in
corporate spend data and over 350 million transactions from over
100 data systems.
“Due to its indirect spending focus, Zeborg was naturally
strong in services sectors. Emptoris’ advanced sourcing
analytics have proven most appealing among manufacturers that
must assess complex bills of material (BOMs) containing thousands
of line items,” Said Tim Minahan, Vice President, Supply
Chain Research, Aberdeen Group, Inc. “This acquisition
provides Emptoris with significant opportunities to cross-sell
and upsell existing customers. It also solidifies the company’s
role among top-tier sourcing providers, with about 50 licensed
customers.”
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 identify and
prioritize sourcing savings opportunities, negotiate significant
cost savings,
and track contract compliance and supplier performance.
Emptoris customers include American Express, Boeing, Cigna, Fleet
Financial
Corporation, GlaxoSmithKline, Keyspan, Motorola, Owens
Corning and Samsung America. Emptoris, a privately held company,
is headquartered
in Burlington, Massachusetts.
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