IBX acquires Portum and announces 38 per cent growth during first half of 2006

Frankfurt/Stockholm, 31. August, 2006 - IBX expands its activities in central Europe by acquiring Portum, the leading German provider of web-based sourcing solutions. The acquisition is in line with IBX’ long-term strategy to expand in Europe and adds to IBX strong growth. By half year 2006, IBX turnover grew by 38 per cent excl Portum, totalling MSEK 116.2 (84.3). The acquisition of Portum strengthens IBX’ capabilities in the German market and provides access to new key markets in Europe through a competent team and strong customer relationships.

IBX’ first half of 2006 was marked by rapid growth, spurred by new contracts with strategically important customers. Following the successful integration of German e-procurement provider trimondo GmbH last year, IBX now announces another strategic acquisition. Portum, the leading German provider of web-based sourcing solutions, will be integrated into IBX as part of the company’s ambition to be the leading European provider of efficient purchasing solutions. As part of the acquisition Portum’s current owners Siemens and Fiador join as new shareholders in IBX.

– The first six months of 2006 have been characterized by continuous growth on all markets. We are now commencing another strategic acquisition in Germany with the purpose of enhancing our capabilities in central Europe. We are excited about Portum’s unique capabilities and customer base including some of the most prominent companies in Europe. Portum’s state of the art e-auction solution is an important complement to our existing product portfolio. The acquisition allows us to continue our expansion on important markets, said Hans Ahlinder, CEO of IBX.

In all, Portum has 33 employees, mainly located in Frankfurt, Germany. Through the acquisition, IBX gains foothold on two new key markets, Spain and France, where Portum currently holds offices and important customer relationships. IBX’ total turnover pro forma 2006, including Portum, is estimated to be close to MEUR 30.

– We are pleased to be an integral part of IBX. We are now able to provide our customers with a complete solution for sourcing, procurement and payment and to leverage IBX’ deep competence within purchasing. Being part of the leading European purchasing solutions provider will help us to bring even more value to our customers, said Peter Hirsekorn, CEO of Portum AG.

IBX also announced financial results for the first six months. Turnover grew by 38 per cent, totalling MSEK 116.2 (84.3). Excluding revenues from acquired companies, the turnover increased by 30 per cent to MSEK 94,0 (72,4). Operating income (before depreciation) amounted to MSEK 7.9 (7.8) and income before taxes was MSEK -2.6 (0.9).

– We grow faster than the market and continue to use our cash flow to invest into enhanced products and capabilities in new markets. The acquisition of trimondo GmbH has been successful and the integration of the organization is almost finished. The one time costs relating to the integration are taken entirely over the income statement during the last 12 months period. During the rest of the year, focus will be on developing new and existing customer relationships, integrate Portum into our organizational structure and establishing activities on new geographical markets, said Hans Ahlinder.

Portum AG
Rotfeder-Ring 7
60327 Frankfurt
Tel.: +49 (0)69 93 999 - 0
Fax: +49 (0)69 93 999 - 399
E-Mail: info@portum.com
Web:www.portum.com

For further information, please contact:
Hans Ahlinder, CEO IBX, Tel: +46 70 513 65 79, E-mail: hans.ahlinder@ibx.se
Peter Lageson, Marketing Director IBX, +46 70 37 55 105, E-mail: peter.lageson@ibx.se
Torbjörn Enström, CFO IBX, Tel: +46 8 5030 4223, E-mail: torbjorn.enstrom@ibx.se
Peter Hirsekorn, CEO of Portum AG, Tel: +49 93 999 0, E-mail: Peter.Hirsekorn@portum.com

About IBX
IBX is Europe's leading provider of services and solutions for efficient purchasing. IBX supports large and medium sized organizations in transforming their sourcing, procurement and payment functions, enabling them to quickly capture spend and deliver measurable savings. IBX services and solutions include IBX Strategy, IBX Source, IBX Procure, IBX Pay and IBX Supplier Network. IBX customers are, among others, Lufthansa, Ericsson, Deutsche Post World Net, Volvo Group, Novo Nordisk, Skanska, SEB, Norwegian State and Arla Foods. www.ibxeurope.com

About Portum
Portum provides companies and marketplaces with web-based software to simplify and support strategic sourcing and purchasing processes. The tools, which offer online negotiations, online request for quotations and supplier management, facilitate collaboration, communication and information management between buyers and suppliers. Since the first transaction in February 2000, more than 8.1 billion euros worth of business have been carried out on the platform with savings averaging 16 percent. Portum’s customers include Siemens, Deutsche Telekom, Tchibo, TOTAL, Linde, Vodafone, BMW, Caja Madrid and RWE.
www.portum.com

This release was published on openPR.