Emptoris Sees Record Revenues in Latest Quarter

Supply management solutions provider signs 15 major deals in Q3, adds "Pro to Know" Rudzki to advisory board

Supply management solutions provider signs 15 major deals in Q3, adds "Pro to Know" Rudzki to advisory board

Burlington, MA — November 17, 2004 — Emptoris, a provider of enterprise supply management solutions for Global 5000 companies, this week announced record results for the third quarter of 2004, with revenues that were over 200 percent better than revenues for the third quarter of 2003.

Burlington-based Emptoris also announced that procurement industry veteran Robert A. Rudzki, a recipient of Supply & Demand Chain Executive's "Pro to Know" designation in 2004, had joined the solution provider's advisory board.

The company reported new sales of its solutions for the third quarter were 250 percent of the comparable new sales in the third quarter of 2003. This record-breaking quarter continues the trend set by Emptoris when it delivered record first and second quarter 2004 revenues and new sales bookings, the solution provider said.

Key to achieving these results were new deals in the financial services, pharmaceutical, retail and manufacturing industries. Overall, the company said it signed 15 major deals during the third quarter. In addition, Emptoris said it saw significant contributions from both Europe and the Asia Pacific region in the latest quarter.

"Emptoris' continued success demonstrates the high value and significant return on investment our solutions provide for companies tackling complex supply management problems," said Avner Schneur, founder and CEO of Emptoris. "These customers are using our solutions not only to reduce costs and improve financial performance but also to build competitive advantage in their supply chain."

Earlier this quarter, Emptoris closed a $12 million round of financing led by new investor ABS Capital Partners, a private equity firm focused on investing in established growth companies, with existing investors Menlo Ventures and HarbourVest also participating. The funding will be used to accelerate sales and marketing as well as for potential acquisitions. Dean Goodermote, venture partner at ABS, joined the Emptoris board of directors. Goodermote was the CEO of Clinsoft (formerly Domain Pharma), the CEO of Process Software, and the chairman and president of MRO Software, which he led through a successful IPO and secondary offering.

In addition, Emptoris this week announced that procurement industry veteran and business transformation leader Robert A. Rudzki has joined Emptoris' advisory board. Rudzki brings more than 25 years of experience across several industries. Currently the president of Greybeard Advisors, which provides focused advice to new businesses striving to achieve and sustain success, Rudzki previously served as senior vice president for materials management and chief procurement officer for Bayer Corporation. Rudzki was selected by Supply and Demand Chain Executive for its annual "Pros to Know" designation. (See related article.)