e-Commerce Solutions Arm of Elance Acquired by Click Commerce
Chicago, Illinois - (The Hosting News) - February 9, 2006 - Provider of on-demand supply chain management solutions, Click Commerce, Inc., has acquired substantially all of the operating assets of Elance, Inc.'s on-demand e-commerce solutions for services business.
According to the company, the acquisition enhances Click Commerce's supply chain management solutions for the extended enterprise by adding new on-demand collaborative commerce capabilities that enable companies to find, evaluate, purchase, manage, and pay contractors and third-party service providers.
Michael W. Ferro, Jr., Chairman and Chief Executive Officer of Click Commerce commented on the news, ''As manufacturing companies outsource more and more of their operations, buying and managing third-party services and service providers becomes a real challenge. The addition of services and contractor management capabilities creates significant cross-selling opportunities in the aerospace and defense and contract manufacturing verticals, as well as in our core markets of high-tech, financial services, and institutional research. Click Commerce's Service-Oriented Architecture will facilitate our customers' use of the new solutions to derive cost savings, greater visibility, and increased compliance for the services they are already buying.''
Click Commerce will continue to offer the Elance outsourcing management software as a service to many different industries, including the high-tech, energy, financial services, manufacturing, transportation, and utilities industries. Elance estimated that, in 2005, its customers used its solutions to manage over $7 billion of their Services and Contractor spending on IT, contingent labor, operations, management consulting, marketing, print, and other service projects.
The customers of this Elance business include a number of existing Click Commerce customers, such as FedEx, GE, and Motorola, as well as other well-known companies, like American Express and BP. The acquisition also included two foreign Elance subsidiaries, which expanded Click Commerce internationally by increasing its European presence with additional sales and support staff in the United Kingdom and by adding a small software development facility in India.
According to the two companies, Click Commerce paid approximately $15 million in stock and cash for the services and contractor management business assets of Elance.
In 2006, Click Commerce expects the acquired Elance business to recognize approximately $7,500,000 in recurring revenues from its customers purchasing maintenance, hosting and services. The majority of the employees of this Elance business unit will become Click Commerce employees after the transaction.
After the sale of the Services and Contractor Management business, Elance, Inc. will concentrate on its Internet business and the growth of its online service for small business outsourcing.
According to the company, the acquisition enhances Click Commerce's supply chain management solutions for the extended enterprise by adding new on-demand collaborative commerce capabilities that enable companies to find, evaluate, purchase, manage, and pay contractors and third-party service providers.
Michael W. Ferro, Jr., Chairman and Chief Executive Officer of Click Commerce commented on the news, ''As manufacturing companies outsource more and more of their operations, buying and managing third-party services and service providers becomes a real challenge. The addition of services and contractor management capabilities creates significant cross-selling opportunities in the aerospace and defense and contract manufacturing verticals, as well as in our core markets of high-tech, financial services, and institutional research. Click Commerce's Service-Oriented Architecture will facilitate our customers' use of the new solutions to derive cost savings, greater visibility, and increased compliance for the services they are already buying.''
Click Commerce will continue to offer the Elance outsourcing management software as a service to many different industries, including the high-tech, energy, financial services, manufacturing, transportation, and utilities industries. Elance estimated that, in 2005, its customers used its solutions to manage over $7 billion of their Services and Contractor spending on IT, contingent labor, operations, management consulting, marketing, print, and other service projects.
The customers of this Elance business include a number of existing Click Commerce customers, such as FedEx, GE, and Motorola, as well as other well-known companies, like American Express and BP. The acquisition also included two foreign Elance subsidiaries, which expanded Click Commerce internationally by increasing its European presence with additional sales and support staff in the United Kingdom and by adding a small software development facility in India.
According to the two companies, Click Commerce paid approximately $15 million in stock and cash for the services and contractor management business assets of Elance.
In 2006, Click Commerce expects the acquired Elance business to recognize approximately $7,500,000 in recurring revenues from its customers purchasing maintenance, hosting and services. The majority of the employees of this Elance business unit will become Click Commerce employees after the transaction.
After the sale of the Services and Contractor Management business, Elance, Inc. will concentrate on its Internet business and the growth of its online service for small business outsourcing.
posted by kan chun at 1:25 AM
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