Telecom Expense Management

Emptoris, a provider of strategic supply management and enterprise contract management solutions, has acquired Telecom Expense Management (TEM) solution provider Rivermine.

This strategic move has expanded Emptoris’ solution suite and added a portfolio of new Global 1000 companies to its customer base. It has also increased the company’s footprint with key strategic partners.

The financial terms of the acquisition were not disclosed by the companies.

Rivermine (News - Alert) enables organizations to gain visibility into, and control over, their telecom spend and lifecycle management. The company is known for its advanced and rich software feature set, as well as its domain expertise in navigating the complex billing systems of global telecommunication companies.

"A core value proposition of Emptoris is its ability to help Global 1000 companies address high-value, but challenging spend categories in a manner that delivers meaningful bottom-line impact,” said Patrick D. Quirk, president and chief executive officer of Emptoris. “A regular complaint heard from CFOs and CPOs is that their ERP systems are not fundamentally designed to manage these critical spend categories such as transportation, contingent labor and services. The acquisition of Rivermine strengthens and extends Emptoris' value proposition and competitive positioning by providing proven expense management technology in a significant services spend category."

According to a release, Rivermine's employees joined the Emptoris team effective December 24, 2010. Mark Logan (News - Alert) will continue working as president of the Rivermine division.

"The acquisition of Rivermine further offers Emptoris entrée into global companies who clearly understand the bottom-line impact of applying technology to address key spend categories," said Logan. "We are very excited to join the Emptoris family and believe the combination of our organizations will dramatically reshape the TEM market, creating the industry's first TEM offering as part of a broader spend management suite -- and one of the industry's most extensive global footprints and support networks."

Read a related article at TMCnet “Emptoris Inc.'s Global Sourcing Program to Augment MTN's (News - Alert) Future Growth.”