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Ariba buys competitor Tradex

Published on .

Mountain View, Calif.--Taking out an arch rival with dollars, Ariba announced Thursday it has agreed to buy Tradex Technologies, Tampa, Fla., in a stock swap deal valued at $1.86 billion. The move gives Ariba a foothold in 18 of the markets where Tradex operates buying exchanges, including financial services, telecommunications, plastics and food service. Ariba was one of the first vendors of corporate systems that allow for buying supplies without paper invoices and approvals.
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