Ariba buys FreeMarkets and plans system merger_2
7 September 2012
Enterprise spend management solutions provider Ariba has bought global supply management software firm FreeMarkets for $493 million.
The integrated company will keep the Ariba name and combine the leadership teams of both companies.
Bob Calderoni, Ariba's chairman and chief executive, will lead the new company, while Dave McCormack, FreeMarkets' president and chief executive, will become president and join Ariba's board of directors.
FreeMarkets' shareholders own 28 per cent of the...