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29 January 2012 | Angeline Albert
Spend management technology company Ariba
enjoyed a revenue rise of 39 per cent to $125.7 million (£80 million) over the
past financial quarter.
This was up on the $90.4 million (£57.5
million) that the firm made during the same period in 2010, the firm’s first
quarter (three months up to 31 December 2011). The growth was attributed to an
increase in new customers.
Some 244 buyer companies around the world
purchased Ariba solutions during the quarter including Pfizer, Tyco
International, AstraZeneca and ArcelorMittal. This included 48 new customers,
and the firm completed 10 deals worth more than $1 million (£636,194).
It also represented a slight increase on
revenue in the previous quarter, which
was $122.7 million (£78.1 million).
According to the business’ results, Ariba’s
revenue from subscription and maintenance increased by 48 per cent to $97.2
million (£61.9 million) compared to $65.9 million (£41.9 million) for the same
quarter the year before.
Bob Calderoni, chairman and CEO of Ariba
said: "Ariba’s strong momentum continued during the first quarter, leading
to strong revenue growth and profitability.”