Ariba Adds to Services with $400 Million Acquisition
Page 1 of 1
E-commerce company Ariba, Inc. Monday bought business-to-business trading firm TradingDynamics, Inc. for approximately $400 million worth of stock in an effort to enhance its business-to-business services.
TradingDynamics provides services for business customers including auctions, reverse auctions, requests for quotes (RFQ) and exchanges. With the acquisition, Ariba (ARBA) will incorporate TradingDynamics' services into its Ariba Network platform.
The acquisition reflects Ariba's strategy to build a technical and business infrastructure that enables buyers, suppliers, and other providers to reduce costs, increase revenue, and build competitive advantage on the Internet, said Keith Krach, Ariba president and CEO.
"This acquisition is the latest step in our business strategy to drive the adoption of business-to-business e-commerce by adding value to the Ariba network platform," he said. "These new markets and network services will help make the global economy more efficient by enabling market makers to deliver frictionless commerce environments in which market forces will dynamically match business supply and demand."