Ariba, Inc. (Nasdaq: ARBA), the leading provider of
collaborative business commerce solutions, today announced that it
has signed a definitive agreement to acquire Quadrem, a
privately-held provider of one of the world's largest supply
networks and on-demand supply management solutions. With the
acquisition, Ariba further expands the depth and breadth of the
Ariba® Network, its market-leading web-based trading community.
Ariba will pay a total of $150 million, comprised of an upfront
payment of $75 million in cash and $50 million in stock, and a
holdback payment of $25 million, subject to performance conditions,
payable 36 months after the close in either cash or stock. Please
see the 8-K for more detail in connection with mechanics of the
escrow and holdback payments. In addition, and related to the
transaction, Ariba will pay approximately $10 million to modify and
terminate aspects of a commercial arrangement previously entered
into by Quadrem.
The transaction, which is subject to customary closing
conditions and regulatory approvals, has been approved by both
companies' board of directors and is expected to close in the
second quarter of Ariba’s fiscal year 2011, ending March 31.
“Ariba’s on-demand commerce solutions and global trading network
have made it easier for businesses of all sizes and industries to
buy, sell, and manage cash. The acquisition of Quadrem will enable
us to further expand our network volume and reach, accelerate
growth, and extend better commerce to more companies in more
regions of the globe,” said Bob Calderoni, CEO, Ariba. “Quadrem has
proven its ability to build and monetize large-scale collaborative
commerce programs. We can leverage this experience to create
additional value for our customers and bring our proven solutions
to Quadrem’s existing customer base to enhance the value of their
investments.”
With approximately 70,000 suppliers in 65 countries and large
buyer customers including Alcoa, Anglo American, BHP Billiton,
Nestlé, Vale and Rio Tinto, Quadrem has a unique global footprint
and expertise in operating one of the world’s largest on-demand
supply networks. Quadrem’s 100% on-demand solutions service
customers across a range of industries, including: natural
resources, oil & gas and manufacturing. The company also
operates a supplier identification and verification offering that
is complementary to Ariba Discovery™, a unique web-based service
that helps to instantly connect buyers and suppliers around the
world.
“In uniting our knowhow, solutions and people, Quadrem and Ariba
can deliver unparalleled network scale and reach that enables
buyers and sellers around the world to improve supply chain
performance and tap new business opportunities,” said Charles
Jackson, CEO, Quadrem. “Through the combined entities, companies
will have access to a truly global partner who can help them
optimize and extend buyer and supplier commerce and ultimately, the
results that they deliver.”
“As a customer of both Ariba and Quadrem we look forward to the
combination of the two companies and to the delivery of even more
robust solutions we can leverage to support our operations, enhance
our procurement effectiveness and extend collaboration with our
suppliers globally.” said Scott Singer, Global Head of Procurement
for Rio Tinto.
Conference Call and Webcast Information
Ariba will host a conference call to discuss this transaction
today at 8:30 a.m. ET. To join the call, please dial 1-877-407-8031
in the United States and Canada, or 1-201-689-8031 if calling
internationally. A live web broadcast of the call will be available
on the investor relations section of Ariba’s website at:
www.ariba.com. The webcast may also be accessed by logging in at
http://www.vcall.com
A replay of the conference call will be available shortly after
the completion of the conference call through January 18, 2011 and
can be accessed by calling 1-877-660-6853 in the United States and
Canada or 1-201-612-7415 internationally and entering account
number: 286 and conference ID number: 361257.
About Quadrem
Quadrem (www.quadrem.com ) operates one of the world’s largest
supply networks, connecting buyers and suppliers by “digitizing”
the many steps involved in buying and selling products and
services. Since 2000 we have delivered 100% On Demand solutions
that enable our customers to rapidly connect and collaborate to
improve supply chain performance. Established in 2000, Quadrem has
locations in Australia, Brazil, Canada, Chile, France, Mexico, The
Netherlands, Peru, Singapore, South Africa and the United
States.
About Ariba, Inc.
Ariba, Inc. is the leading provider of collaborative business
commerce solutions. Ariba combines industry-leading technology to
optimize the complete commerce lifecycle with the world's largest
web-based community to discover, connect and collaborate with a
global network of trading partners, delivering everything needed to
control costs, minimize risk, improve profits and enhance cash flow
and operations – all in a cloud-based environment. Whether you’re
buying, selling or managing cash, you can do it more efficiently
and effectively in the Ariba® Commerce Cloud. Over 325,000
companies, including more than 90 percent of the Fortune 100, use
Ariba’s solutions to drive more efficient inter-enterprise
commerce. Why not join them? For more information on Ariba commerce
solutions and the results they deliver, visit www.ariba.com
Copyright © 1996 – 2010 Ariba, Inc.
Ariba, the Ariba logo, AribaLIVE, Ariba.com, Ariba.com Network,
Ariba Spend Management. Find it. Get it. Keep it. and PO-Flip are
registered trademarks of Ariba, Inc. Ariba Procure-to-Pay, Ariba
Buyer, Ariba eForms, Ariba PunchOut, Ariba Services Procurement,
Ariba Travel and Expense, Ariba Procure-to-Order, Ariba Procurement
Content, Ariba Sourcing, Ariba Savings and Pipeline Tracking, Ariba
Category Management, Ariba Category Playbooks, Ariba StartSourcing,
Ariba Spend Visibility, Ariba Analysis, Ariba Data Enrichment,
Ariba Contract Management, Ariba Contract Compliance, Ariba
Electronic Signatures, Ariba StartContracts, Ariba Invoice
Management, Ariba Payment Management, Ariba Working Capital
Management, Ariba Settlement, Ariba Supplier Information and
Performance Management, Ariba Supplier Information Management,
Ariba Discovery, Ariba Invoice Automation, Ariba PO Automation,
Ariba Express Content, Ariba Ready, and Ariba LIVE are trademarks
or service marks of Ariba, Inc. All other brand or product names
may be trademarks or registered trademarks of their respective
companies or organizations in the United States and/or other
countries.
Ariba Safe Harbor
Safe Harbor Statement under the Private Securities Litigation
Reform Act 1995: Information and announcements in this release
involve Ariba's expectations, beliefs, hopes, plans, intentions or
strategies regarding the future and are forward-looking statements
that involve risks and uncertainties. All forward-looking
statements included in this release are based upon information
available to Ariba as of the date of the release, and we assume no
obligation to update any such forward-looking statements. These
statements are not guarantees of future performance and actual
results could differ materially from our current expectations.
Factors that could cause or contribute to Ariba's operating and
financial results to differ materially from current expectations
include, but are not limited to: the impact of the credit crises on
Ariba’s results of operations and financial condition; delays in
development or shipment of new versions of Ariba's products and
services; lack of market acceptance of Ariba's existing or future
products or services; inability to continue to develop competitive
new products and services on a timely basis; introduction of new
products or services by major competitors; the impact of any
acquisitions, including risks and uncertainties arising from the
possibility that a closing may be delayed or may not occur and
difficulties with the integration process or the realization of
benefits of a transaction; the impact of our disposition, including
the potential disruption of our ongoing business; the ability to
attract and retain qualified employees; difficulties in
assimilating acquired companies, long and unpredictable sales
cycles and the deferrals of anticipated orders; declining economic
conditions, including the impact of a recession; inability to
control costs; changes in the company's pricing or compensation
policies; significant fluctuations in our stock price; the outcome
of and costs associated with pending or potential future regulatory
or legal proceedings; the impact of our acquisitions and
dispositions, including the disruption or loss of customer,
business partner, supplier or employee relationships; and the level
of costs and expenses incurred by Ariba as a result of such
transactions. Factors and risks associated with its business,
including a number of the factors and risks described above, are
discussed in Ariba's Form 10-Q filed with the SEC on August 5,
2010.
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