Rivermine, a provider of automated telecom expense management (TEM) solutions, has announced the completed acquisition of MBG Expense Management. MBG is a TEM provider with 60 percent of its customer base in the Fortune 500.
Rivermine’s acquisition of MBG enables the company to further enhance its technology and services with MBG’s 20-plus 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.
“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 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, explained the company. Conversely, MBG’s customers will benefit from Rivermine’s comprehensive wireless management and international TEM solutions.
With the integration of both companies nearly complete, 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.