USi Aquires CoreHarbor

Expands Ariba practice, adds spend management, procurement and sourcing capabilities

Annapolis, MD — June 11, 2003 — Software-as-a-service provider USi this week expanded its Ariba practice with the acquisition of CoreHarbor, an Ariba-focused managed service provider.

USi said it would use the acquisition to enhance its Ariba practice by adding CoreHarbor's spend management, procurement and sourcing capabilities. The transaction, terms of which were not disclosed, closed on June 9.

The two companies' combined Ariba client base includes such companies as Cookson Electronics, Goodyear Tire & Rubber Co., Network Associates Technology, PolyOne Corp., Rohm & Haas Co., Sunoco and Sylvan Learning Systems.

"CoreHarbor is a pioneer in the development of Ariba best practices, and this acquisition will add great capability to USi's Ariba business," said Andrew Stern, chairman and CEO of USi. "The experience brought to the table by CoreHarbor will greatly benefit USi's existing Ariba clients as well as our [enterprise resource planning] clients looking to further optimize their financial management processes."

The companies said the integration of their operations would commence immediately, with hosting and management of all Ariba-based applications being consolidated within USi's existing facilities. CoreHarbor's current headquarters in Atlanta will be retained to support customer service and sales operations.