Need2Buy and Efinity Announce Merger Agreement; Software Providers Agree to Operate as Riverone
Westlake Village and Aliso Viejo, Calif., Nov. 12, 200.1 Need2Buy and Efinity Inc., announced today that they have signed a merger agreement and that the companies will operate under a new name: RiverOne.
RiverOne will bring together a complete suite of software solutions that addresses the previously unmet need for real-time interactivity among trading partners across distributed electronics-industry supply chains. For the first time, supply-chain partners can view critical business information across enterprises, make changes and take immediate action, while leveraging their current processes and technology infrastructure.
RiverOne addresses a full range of critical activities, including design review, sourcing, planning, forecasting, order lifecycle management and inventory management. "The rapid adoption of outsourcing has created costly communication gaps and extended information lead times between supply-chain participants. The addition of Efinity's solutions uniquely positions us to solve these emerging issues" said Nima Bakhtiary, RiverOnes president and chief operating officer. "In order to address these new supply chain challenges companies must be able to share information and respond to changes in real time this requires interactivity, something only RiverOnes business-to-business applications deliver."
From supply-chain information exchange to performance metrics, all RiverOne solutions are provided in a private, controlled environment. "Efinity recognized early on that the hosted delivery mechanism was the most efficient and cost-effective way to deliver 'outside the four walls' collaboration software," said Chris Smith, Efinity's founder, who will become executive vice president of RiverOne. "RiverOne takes the potential of hosted solutions to the next level by allowing spontaneous communication throughout the entire electronics product lifecycle, thereby enabling supply-chain partners to make faster and better decisions."
RiverOne's INTERactive software suite is designed to work directly with each organization's current Enterprise Resource Planning (ERP) and supply chain management (SCM) software. As a result, high-tech companies can easily and securely share data across their organizations and with their trading partners, without a costly or lengthy integration process. This allows customers to begin using RiverOne's solutions more quickly than conventional supply chain software, and to realize a more rapid return on their investment. Moreover, each RiverOne solution can be deployed on a standalone basis or in concert with other applications, allowing customers to adopt individual capabilities one step at a time.
RiverOne's built-in CrossStream technology bridges the gaps among the disparate systems and data formats used by various supply-chain partners. This capability supports current and emerging communication standards, including Electronic Data Interchange(EDI), RosettaNet and BizTalk. RiverOne's INTERactive solutions include the capability to recognize an organization's internal part numbers (IPNs) and map them to the corresponding part numbers in use by their suppliers and other commerce partners.
Natural Progression for Need2Buy and Efinity
The creation of RiverOne is the latest in a series of Need2Buy milestones established by Nima Bakhtiary, who joined the company as president in August 2001. Over the last several months, the company launched its private trading network solution, significantly expanded its technology development resources and established alliances with several key technology providers.
Need2Buy and Efinity, both based in Southern California, offer highly complementary capabilities. Need2Buy has served thousands of electronics companies with powerful sourcing solutions. Efinity was the first company to offer hosted supply chain solutions to the industry, and brings to RiverOne such leading high-tech customers as Emulex, 3Com and Solectron.
RiverOne Inc. ( http://www.riverone.com) provides innovative and affordable supply chain software that address the previously unmet need for interactivity among trading partners across distributed electronics industry supply chains. The company's solutions leverage existing connectivity among trading partners and provide a privately shared environment in which to manage supply and demand changes in real-time.
RiverOne's INTERactive software suite helps companies manage direct materials more efficiently throughout the product lifecycle, including design review, sourcing, procurement, order lifecycle management, planning and inventory management. The critical business information for these processes is securely transmitted through RiverOne's XML-based CrossStream technology, which acts as a universal translator and supports EDI, RosettaNet, BizTalk and other emerging communication standards. RiverOne's solutions are available as a complete suite or as individual applications, and are delivered through an innovative WebTop user interface that combines the flexibility of an Internet browser with the speed of desktop software. RiverOne's software enables better decision-making and transforms static, disjointed supply chains into dynamic, interactive value chains, producing rapid and measurable bottom-line result to companies of all sizes.
Mark H. Leaf
Corp. Communications
RiverOne Inc.
31364 Via Colinas, Ste. 103
Westlake Village, CA 91362
Phone: (818) 661-1304
Fax: (818) 597-5767
mark.leaf@riverone.com
www.riverone.com
RiverOne will bring together a complete suite of software solutions that addresses the previously unmet need for real-time interactivity among trading partners across distributed electronics-industry supply chains. For the first time, supply-chain partners can view critical business information across enterprises, make changes and take immediate action, while leveraging their current processes and technology infrastructure.
RiverOne addresses a full range of critical activities, including design review, sourcing, planning, forecasting, order lifecycle management and inventory management. "The rapid adoption of outsourcing has created costly communication gaps and extended information lead times between supply-chain participants. The addition of Efinity's solutions uniquely positions us to solve these emerging issues" said Nima Bakhtiary, RiverOnes president and chief operating officer. "In order to address these new supply chain challenges companies must be able to share information and respond to changes in real time this requires interactivity, something only RiverOnes business-to-business applications deliver."
From supply-chain information exchange to performance metrics, all RiverOne solutions are provided in a private, controlled environment. "Efinity recognized early on that the hosted delivery mechanism was the most efficient and cost-effective way to deliver 'outside the four walls' collaboration software," said Chris Smith, Efinity's founder, who will become executive vice president of RiverOne. "RiverOne takes the potential of hosted solutions to the next level by allowing spontaneous communication throughout the entire electronics product lifecycle, thereby enabling supply-chain partners to make faster and better decisions."
RiverOne's INTERactive software suite is designed to work directly with each organization's current Enterprise Resource Planning (ERP) and supply chain management (SCM) software. As a result, high-tech companies can easily and securely share data across their organizations and with their trading partners, without a costly or lengthy integration process. This allows customers to begin using RiverOne's solutions more quickly than conventional supply chain software, and to realize a more rapid return on their investment. Moreover, each RiverOne solution can be deployed on a standalone basis or in concert with other applications, allowing customers to adopt individual capabilities one step at a time.
RiverOne's built-in CrossStream technology bridges the gaps among the disparate systems and data formats used by various supply-chain partners. This capability supports current and emerging communication standards, including Electronic Data Interchange(EDI), RosettaNet and BizTalk. RiverOne's INTERactive solutions include the capability to recognize an organization's internal part numbers (IPNs) and map them to the corresponding part numbers in use by their suppliers and other commerce partners.
Natural Progression for Need2Buy and Efinity
The creation of RiverOne is the latest in a series of Need2Buy milestones established by Nima Bakhtiary, who joined the company as president in August 2001. Over the last several months, the company launched its private trading network solution, significantly expanded its technology development resources and established alliances with several key technology providers.
Need2Buy and Efinity, both based in Southern California, offer highly complementary capabilities. Need2Buy has served thousands of electronics companies with powerful sourcing solutions. Efinity was the first company to offer hosted supply chain solutions to the industry, and brings to RiverOne such leading high-tech customers as Emulex, 3Com and Solectron.
About RiverOne
RiverOne Inc. ( http://www.riverone.com) provides innovative and affordable supply chain software that address the previously unmet need for interactivity among trading partners across distributed electronics industry supply chains. The company's solutions leverage existing connectivity among trading partners and provide a privately shared environment in which to manage supply and demand changes in real-time.
RiverOne's INTERactive software suite helps companies manage direct materials more efficiently throughout the product lifecycle, including design review, sourcing, procurement, order lifecycle management, planning and inventory management. The critical business information for these processes is securely transmitted through RiverOne's XML-based CrossStream technology, which acts as a universal translator and supports EDI, RosettaNet, BizTalk and other emerging communication standards. RiverOne's solutions are available as a complete suite or as individual applications, and are delivered through an innovative WebTop user interface that combines the flexibility of an Internet browser with the speed of desktop software. RiverOne's software enables better decision-making and transforms static, disjointed supply chains into dynamic, interactive value chains, producing rapid and measurable bottom-line result to companies of all sizes.
Mark H. Leaf
Corp. Communications
RiverOne Inc.
31364 Via Colinas, Ste. 103
Westlake Village, CA 91362
Phone: (818) 661-1304
Fax: (818) 597-5767
mark.leaf@riverone.com
www.riverone.com