Ariba and Hubwoo report revenue rises

28 October 2011

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28 October 2011 | Angeline Albert

Revenue at e-procurement provider Ariba increased by more than $123 million compared to 2010.

According to year-end results, the technology supplier said revenue reached $443.8 million (£275.6 million), compared to $320.4 million (£198.9 million) in the 2010 financial year. The growth was attributed to the company signing 59 new customers, including 13 deals for software worth more than $1 million (£621,371).

Revenue in the final quarter of the year was $122.7 million (£76.1 million), compared to $84.9 million in the same period of 2010.

This month, the company announced the acquisition of the French e-invoice network provider b-process for an undisclosed sum. “We continue to invest in the development of these solutions and to expand our presence globally, as evidenced by our acquisitions of Quadrem, and most recently, b-process,” said the company’s CEO and chairman Bob Calderoni.

Meanwhile, rival e-procurement firm Hubwoo reported that revenue increased by 4 per cent in the third quarter compared to the three months previous. The company earned €9.2 million (£8 million), in comparison to €8.8 million (£7.7 million) in the second quarter, having signed contracts with AzkoNobel, Birds Eye and Rolls-Royce.

However, revenue was down 4 per cent compared the same period in 2010, when it earned €9.6 million (£6 million).

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