RealTime IT News

ICG Takes $20 Million Stake in Emptoris

B2B e-commerce company Internet Capital Group said it is spending $20 million in cash for an undisclosed stake in Emptoris Inc., with an option to purchase additional shares.

Emptoris is a provider of B2B e-commerce strategic sourcing and RFQ solutions. The company's ePASS product employs optimization technology and customizable work flow and interfaces to enhance decision-making capabilities on sourcing for client companies in a range of industries and vertical markets.

"Emptoris' sophisticated strategic sourcing and Request for Quote (RFQ) solutions can create significant value for our market makers by enabling core strategic buying activities to be transacted in their net markets while significantly improving the efficiency of e-procurement processes for the end users," said Rick Bunker, managing director and chief technology officer for ICG (ICGE), who will be joining the Emptoris board.

Since its inception in 1996, Internet Capital Group has acquired and built two types of companies: market markers, which bring buyers and sellers together by creating Internet-based marketplaces; and enabling service providers and infrastructure companies, which sell software and services to businesses engaged in e-commerce.

As an ICG partner company, Emptoris will gain access to strategic expertise and operational support as well as best practices across ICG's collaborative network of B2B e-commerce partner companies.