|FactSnippet No. 1,651,998|
14 Facts About Ariba
Ariba was founded in 1996 by Bobby Lent, Boris Putanec, Paul Touw, Rob Desantis, Ed Kinsey, Paul Hegarty, and Keith Krach on the idea of using the Internet to enable companies to facilitate and improve the procurement process, which was paper-based, labor-intensive, and inefficient for large corporations.
|FactSnippet No. 1,651,999|
The name Ariba is a neologism, chosen by a branding company since it was easy to pronounce and spell.
|FactSnippet No. 1,652,000|
Ariba went public in 1999 under Krach's leadership as CEO, and was one of the first business-to-business Internet companies to do an IPO.
|FactSnippet No. 1,652,001|
On December 17,1999, Ariba announced it would acquire Atlanta-based Tradex Technologies in a stock swap valued then at $1.
|FactSnippet No. 1,652,002|
The stock market liked the acquisition and the price of Ariba's shares rose from $57 at the time of the announcement to $173 at closing on March 9,2000, which marked the peak of the Internet Bubble.
|FactSnippet No. 1,652,003|
In January 2001 Ariba announced that it would acquire Agile Software in a $2.
|FactSnippet No. 1,652,004|
In early 2004, Ariba acquired FreeMarkets which gave the company a software package in the upstream of the sourcing process.
|FactSnippet No. 1,652,005|
In late 2007, Ariba bought the company Procuri for $93 million, which enhanced the company's client base and on-demand abilities.
|FactSnippet No. 1,652,006|
In December 2008, Ariba announced that the US District Court for the Eastern District of Texas had issued an injunction against Emptoris, which prohibits the company from infringing on two of Ariba's patents related to overtime and bid ceilings in reverse auctions.
|FactSnippet No. 1,652,007|
In November, 2010, Ariba announced that it would acquire Quadrem, a privately held provider of one of the world's largest supply networks and on-demand supply management solutions.
|FactSnippet No. 1,652,008|
In October, 2011 Ariba announced the acquisition of b-process, a privately held French company and European leader in electronic invoicing service provider, for approximately €35 million in cash.
|FactSnippet No. 1,652,009|
Ariba's shareholders approved the acquisition on August 29,2012, and it was completed on October 1,2012, for $4.
|FactSnippet No. 1,652,010|
In January of 2022 SAP Ariba announced that it would be building a partnership with CLM specialist Icertis as well as taking minority stake within the company for an undisclosed amount.
|FactSnippet No. 1,652,011|