Ariba to acquire Softface
Staff -- Purchasing, 5/6/2004 2:00:00 AM
Enterprise spend management software provider Ariba continued its 2004 spending spree with the news that it plans to acquire Softface, a provider of spend performance management solutions. The deal, which is expected to close in April, will expand Ariba's offerings in the areas of spend data cleansing, enrichment and classification. Ariba and Softface have been in a strategic relationship since July 2003 and have six joint customers, including PPG Industries which was recently awarded a Spend Management Star by purchasing for its initiatives in spend visibility.
"Combining Ariba solutions and domain expertise with Softface technology, Ariba can provide an automated, repeatable approach that allows customers to begin with the cleanest, most reliable spend data possible—information that is essential to successful spend analysis and sourcing efforts," said Michael Schmitt, chief marketing officer for Ariba.
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