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Article updated as of 11 a.m., May 4, 2011.
Contract management software maker Emptoris Inc. continues its buying spree with the acquisition of a German company, Xcitec announced today.
Terms of the deal were not disclosed, but a source with knowledge of the deal said Xcitec is profitable with 100 employees, and that the acquisition will put the combined entity’s revenue near $100 million.
Emptoris’ head count has now hit 750, the company said in a press release announcing the acquisition.
Emptoris has raised at least $63 million, and since 2008 has tapped the deep pockets of private equity backer Marlin Equity Partners. The Los Angeles firm is using Emptoris as a roll-up platform for supply and contract management acquisitions. CEO Patrick Quirk has discussed plans to take the company public in 2011.
The last M&A deal came in January, when Emptoris bought telecom expense management (TEM) vendor Rivermine, also for undisclosed terms.
A person close to Emptoris said the company is still planning an IPO, but other options are possible, and the event may not take place until 2012.
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