Supply Management Specialist BravoSolution Touts Financial Growth with 2008 Start

International expansion strong driver as revenue climbs 43 percent, company says; COO takes over helm as founding CEO Vitaletti steps down


Milan — September 10, 2008 — Supply management solution provider BravoSolution is touting its strong growth in the first half of 2008, with a surge in revenues and expansion of its international presence, with new operations in the U.S., Mexico and China, along with established offices in Italy, Spain, France, the Netherlands and the U.K.

The company also announced a new CEO, with Nader Sabbaghian taking over from Federico Vitaletti, who will stay on as chairman.

Revenue for the first two quarters of 2008 showed a 43 percent increase over 2007 figures for the same period. This recent achievement continues the trend of profitable growth — in the last three years, BravoSolution has recorded an average growth of 32 percent.

Following a series of acquisitions in 2007 combined with further expansion in the supply management market, BravoSolution anticipates continued growth in 2008, forecasting total revenues of £40 million ($70 million at current exchange rates) for the year.

"In a challenging global economy, companies need solutions that help them manage their spending more effectively," said Sabbaghian. "BravoSolution delivers a potent combination of insight and analysis, enabling our customers to create and sustain lasting value for their business. Given the market pressures to deliver bottom-line growth in a difficult environment, we are very optimistic about growing our global market."

BravoSolution has been recognized by both Gartner and Forrester as one of the top vendors in the global supply management market, and with the second quarter results marking its 11th consecutive profitable quarter, it stakes a claim as one of few financially robust vendors in this marketplace.

Currently BravoSolution claims it is serving some 400 companies in the consumer goods, healthcare, manufacturing and government sectors.

BravoSolution also announced that founding CEO Federico Vitaletti will depart from his position following a seven-year tenure. Vitaletti will stay on as chairman. Sabbaghian is moving up from his previous role as chief operating officer.

"Nader has been a key member of our team from the start and one of my closest advisors over the years. He embodies the dynamic, ambitious and international spirit of our company and is ideally suited to lead BravoSolution into it's next stage as a truly global supply management leader," said Vitaletti.

Sabbaghian joined the organization in 2001, shortly after its inception. He subsequently opened the BravoSolution office in London in 2005 and has led that office to its current position as one of BravoSolution's most successful operating subsidiaries. In addition, Sabbaghian led the team responsible for the recent acquisitions of Mobile Workers in France and Verticalnet in the United States.

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