Rivermine Acquires MBG Expense Management

FAIRFAX, Va. – Rivermine, the leading provider of automated Telecom Expense Management (TEM) solutions, today announced the completed acquisition of MBG Expense Management. MBG is a leading TEM provider with 60 percent of their customer base in the Fortune 500 and an unsurpassed reputation for delivering customer satisfaction.

Rivermine’s acquisition of MBG enables the company to further enhance its premier technology and services with MBG’s more than 20 years of TEM services experience and additional solution offerings. The combined company manages nearly $6 billion in annual telecom spend, which encompasses $850 million in international expenses. Recognized by a leading analyst firm as the TEM vendor with the fastest sales growth in 2008, Rivermine has been selected by over 300 enterprises and government agencies to-date.

“Welcoming MBG into the Rivermine family was a natural fit as we both boast strong financial footing and stellar customer satisfaction rates,” said Mark Logan, president and CEO, Rivermine. “The massive amount of telecom spend that the combined company manages is indicative of the experience we bring to customers globally and positions us as an elite TEM provider.”

Having already invested more than $35 million in its industry-leading technology platform, Rivermine plans to continue investments in all platforms and solutions of both companies. As a result, Rivermine customers can now leverage MBG’s TEM services best practices and deep process experience, as well as utilize MBG’s unique chargeback, call accounting and invoice presentation solutions. Conversely, MBG’s customers will benefit from Rivermine’s comprehensive wireless management and international TEM solutions.

With the integration of both companies nearly complete, Mark Logan continues to serve as president and CEO of Rivermine, and Michael Greenspan, former CEO of MBG, joins Rivermine’s board of directors and remains involved in daily operations as a managing director. MBG’s service delivery teams, R&D personnel and other key staff have joined the Rivermine team. Rivermine’s headquarters remains in Fairfax, Va., and MBG’s New York office will serve as an additional Rivermine location. For more information about Rivermine’s global TEM solutions, please visit www.rivermine.com.

About Rivermine

Rivermine is a leading provider of automated, award-winning solutions that enable organizations to gain visibility into, and control over, their wireline and wireless telecom spend. More than 300 companies—including many Fortune 1000 corporations and large government agencies—have selected Rivermine to optimize their overall telecom environments and dramatically reduce costs. Rivermine currently manages nearly $6 billion in annual telecom spend globally. The company’s patent-pending Telecom Expense Management (TEM) solutions automate the entire telecom lifecycle including contract sourcing, ordering, inventory management, invoice processing and auditing, wireless expense management, mobile device management, and reporting/analytics. For more information, visit http://www.rivermine.com.

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