Telecom Expense Management Provider Rivermine Acquires MBG Expense Management
December 15, 2009
By Erin Harrison, Executive Editor, Cloud Computing
Telecom expense management provider Rivermine (News - Alert) today announced the completed acquisition of New York City-based MBG Expense Management. The combined company manages nearly $6 billion in annual telecom spend, which encompasses $850 million in international expenses.
The amount of telecom expense the combined company handles strongly positions Rivermine moving forward, according to Mark Logan (News - Alert), president and CEO.
“Welcoming MBG (News - Alert) into the Rivermine family was a natural fit as we both boast strong financial footing and stellar customer satisfaction rates,” Logan said in a statement. “The massive amount of telecom spend that the combined company manages is indicative of the experience we bring to customers globally and positions us as an elite TEM provider.”
According to company officials, MBG is a TEM provider with 60 percent of its customer base in the Fortune 500 and an “unsurpassed” reputation for delivering customer satisfaction.
Rivermine’s acquisition of MBG enables the company to further enhance its technology and services with MBG’s more than 20 years of TEM services experience and additional solution offerings, company officials said.
Having already invested more than $35 million in its technology platform, Rivermine plans to continue investments in all platforms and solutions of both companies, company officials said. As a result, Rivermine customers can leverage MBG’s TEM services and process experience, as well as utilize MBG’s “unique” chargeback, call accounting and invoice presentation solutions.
In addition, MBG’s customers will benefit from Rivermine’s wireless management and international TEM solutions. According to Garter, in addition to a high return on investment, users require faster time to savings and expanded mobile management capabilities as key criteria when choosing a vendor.
With the merging of both companies nearly complete, Logan will continue to serve as president and CEO of Rivermine, and Michael Greenspan, former CEO of MBG, joins Rivermine’s board of directors and remains involved in daily operations as a managing director.
In October, Rivermine announced its latest software release, Rivermine 6.1, the industry’s “first” unified wireline and wireless expense management platform available worldwide.
Erin Harrison is a senior editor with TMCnet, primarily covering telecom expense management, politics and technology and Web 2.0. She serves as senior editor for TMC's print publications, including "Internet Telephony (News - Alert)", "Customer Interaction Solutions", "Unified Communications" and "NGN" magazines. Erin also oversees production of TMCnet's weekly iPhone e-Newsletter. To read more of Erin's articles, please visit her columnist page.Edited by Erin Harrison