The deal follows the Annapolis, Maryland-based company’s June 2003 acquisition of CoreHarbor, an Ariba-focused managed services company, which helped Usi’s Ariba business grow 67% over 2003, claims USi. The company’s services for the spend management market include the design and management of sourcing events or auctions, development and implementation of customized forms and processes, catalog management and integration and user training.
USi, which was acquired out of bankruptcy by Bain Capital in January 2002, released selected financial data in February 2004 claiming that it generated earnings before interest, tax, depreciation and amortization of $5.6m. It also claimed that its cash position stood at $27.9m at the end of 2003. The company did not give any information about its revenue growth over the year.
USi said it plans to retain Strong3’s operations in Chicago as a regional sales and client service facility.
