Ariba, Inc. (Nasdaq:ARBA) today announced that it has signed an agreement with PlayCore, Inc., a designer, manufacturer and marketer of a broad range of playground equipment, accessories and related play products that is owned by Bear Stearns Merchant Banking, a leading private equity firm focusing on middle-market investments. Under the terms of the agreement, Ariba will lead a global sourcing initiative designed to generate savings and efficiencies that increase PlayCore's competitive advantage and fuel profitable growth across its business.
"At PlayCore, we believe that play enriches life and we are focused on enriching the lives of our customers by delivering innovative products of superior quality and creating value for our investors by profitably growing our business," said John Conely, Chief Operating Officer, PlayCore. "In order to achieve these goals, we must take a global approach to sourcing and identify opportunities to improve our cost structure and operating efficiency. Ariba provides the expertise, services and sourcing technology needed to find the best, most cost-effective suppliers and execute sourcing strategies that deliver sustainable, bottom-line results."
Leveraging Ariba's globally deployed category specialists, market knowledge, sourcing technology and best practice processes, PlayCore will develop and execute a strategy to globalize its supply base and reduce its direct materials costs. The strategy will focus on identifying the best mix of global and domestic suppliers, given the unique requirements for each line of PlayCore's business at the category level. "A measured amount of healthy competition is a key part of any supply chain," said Thad Reece, Senior Manager of the Ariba Private Equity Solutions team, who will lead the engagement. "With Ariba's solutions, PlayCore can quickly and efficiently identify the group of suppliers - both existing and new - that offers the best balance of performance and total cost to achieve their goals."
"To be a leader in any industry requires a commitment to developing and managing a global supply chain," said David Morgenstern, Managing Director of the Ariba Private Equity Solutions team. "In selecting Ariba to spearhead its global sourcing efforts, PlayCore is demonstrating this commitment and accessing the tools it needs to enhance its supply base, reduce its costs and continue to deliver distinctive and differentiated products that move play forward."
About PlayCore, Inc.
PlayCore, Inc. is one of the leading playground equipment and backyard products companies in the world specializing in the design, manufacture and marketing of commercial and consumer outdoor playground equipment. The commercial play divisions market modular and custom playground systems and components to municipalities, schools, parks and other playground systems users. The consumer divisions manufacture kits for wooden swing sets and climbing units, plastic slides and related products. The other recreational products manufactured by the company include mini-playgrounds, sandboxes, basketball and soccer equipment, picnic tables, picnic benches and site amenities such as benches, litter receptacles and bicycle racks. PlayCore, Inc. is owned by Bear Stearns Merchant Banking ("BSMB"), a leading private equity firm focusing on middle-market investments.
About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com.
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Safe Harbor Statement under the Private Securities Litigation Reform Act 1995: Information and announcements in this release involve Ariba's expectations, beliefs, hopes, plans, intentions or strategies regarding the future and are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Ariba as of the date of the release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to Ariba's operating and financial results to differ materially from its current expectations include, but are not limited to: delays in development or shipment of new versions of Ariba's products and services; lack of market acceptance of Ariba's existing or future products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; the ability to attract and retain qualified employees; difficulties in assimilating acquired companies; long and unpredictable sales cycles and the deferrals of anticipated orders; declining economic conditions; inability to control costs; changes in the company's pricing or compensation policies; significant fluctuations in our stock price; the outcome of and costs associated with pending or potential future regulatory or legal proceedings; the impact of our acquisitions, including the disruption or loss of customer, business partner, supplier or employee relationships; and the level of costs and expenses incurred by Ariba as a result of such transactions. Factors and risks associated with its business, including a number of the factors and risks described above, are discussed in Ariba's Form 10-Q filed August 8, 2007.