Posted: Wednesday, January 30, 2008, 4:46PM
RELATED NEWS
- Toyota drives forward with cost cutting plans
20 Nov 08 - Rolls-Royce announces fresh job cuts
20 Nov 08 - Telecoms giant calls on procurement to deliver massive cost objectives
18 Nov 08 - Insurance u-turn puts brakes on troubled US car industry
14 Nov 08 - British Airways profits plunge but procurement’s profile taking off
11 Nov 08 - Silver screen goes green as Hollywood faces inconvenient truth head-on
10 Nov 08
RELATED ARTICLES
- Number crunching
- In the eye of the storm
- Gas and electricity price hikes set to ignite combustible situation
- Spend Analysis Roundtable: How much?
- Checking out retail
- Get connected
KNOWLEDGE MANAGEMENT TAGS
"Technology", "Spend Management"
CC-Hubwoo strengthens U.S. offering
Paris-based provider of on-demand electronic purchasing solutions cc-hubwoo has strengthened its offering in the US by acquiring spend management services firm blueSolutions.The French company, which manages an annual customer spend of over Euro 7 billion, completed the deal for $1.5m in cash over a three-year period. Mark Williams, CEO-elect of cc-hubwoo, said the acquisition represented a “logical step” in the implementation of the company’s strategy.
“From geographical, cultural, and strategic viewpoints, blueSolutions is a perfect match for cc-hubwoo and establishes in North America our largest consulting team. I am delighted with such a positive step,” he said.
Until now blueSolutions was focused primarily on e-procurement and had a strong background doing Ariba implementations. But the company is understood to have wanted to diversify its prospect base beyond Ariba, which the latest move should deliver.
It is thought that cc-hubwoo will use the new resources to focus on implementation of SAP SRM packages rather than Ariba systems. It will also serve them well to have Ariba-trained resources for SAP customers shifting from older instances of Ariba Buyer onto SAP.
Jason Busch, who writes the SpendMatters blog in the US, said: “In the end, at what would appear a relatively low valuation of $1.5 million, it sounds like cc-hubwoo can’t go wrong with this deal provided they can keep blueSolutions’ resources from migrating to greener pastures.”
= Online Global Members Only 
= Premier Members Only
