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Emptoris Inc. has expanded into telecom expense management, acquiring Rivermine Inc. of Fairfax, Va., a fellow venture-backed company in the space. Terms of the deal were not disclosed.
Burlington-based Emptoris makes software for managing supply and enterprise contracts. Emptoris has taken in at least $63 million in venture capital and growth equity over a variety of stages of finance, including a 2008 recap. In 2010, company officials said they plan to take Emptoris public in 2011. At the time, an analyst pegged the company’s revenue at about $55 million.
Founded in 2001, Rivermine is backed by two Virginia venture firms, Valhalla Partners and Columbia Capital; and two Massachusetts venture firms, Longworth Venture Partners of Waltham and SoftBank Capital of Newton, according to the company’s website. Customers include Ford Motor Co., Sodexo Inc. and the U.S. Postal Service.
Founded in 1999, Emptoris is backed solely by El Segundo, Calif., private equity firm Marlin Equity Partners, which bought the company from earlier venture backers at auction in 2008.
The industry publication Spend Matters put the annual revenue of the combined entity at $80 million to $90 million, citing outside sources.
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