Rearden Commerce bought Ketera Technologies…

Typically I get acquisition news from News portals, Tech Blogs etc. However, this one did not come through these regulr channels or from friends emails but it came directly from the source. Its so happen..This morning I had a meeting with people at Rearden Commerce.  By then the acquisition news was out but I was not aware of it. During the meeting, I came to know that today Rearden Commerce acquired Ketera Technologies, a provider of source-to-pay and spend management solutions.

An excerpt from Spend Matters eloborates what this acquisition would deliver:

“How will Ketera complement Rearden? Patrick suggests that Rearden “set out to build a platform in the B2B [market] based on web services that was content agnostic … the idea was to build a platform capable of enabling and on-boarding all commerce.” Rearden never planned to limit itself to simply being the “Amazon of services.” Ultimately, they wanted to construct a truly unique platform that wasn’t disconnected from the functional applications — which could become increasingly broader in scope and spend coverage overtime. Travel was a logical first choice for category enablement, but today the platform and business model is “inherently horizontal”.”

For more details:

http://www.bizjournals.com/sanjose/news/2010/12/01/rearden-commerce-buys-ketera.html

http://www.spendmatters.com/index.cfm/2010/12/1/Rearden-Commerce-Acquires-Ketera-Creating-a-New-Diversified-Spend-Management-Provider

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