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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
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