SOURCE: Enporion


October 12, 2009 07:30 ET

George Gordon Acquires Software Services Company Enporion

CEO Gordon Becomes Majority Shareholder; All Current Employees to Be Equity Owners

TAMPA, FL--(Marketwire - October 12, 2009) - Enporion CEO George M. Gordon has completed the purchase of stock from Enporion's founding shareholders and is now the majority shareholder. All of Enporion's current employees will become equity owners. Seven investor-owned utilities (IOUs) founded Enporion in 2000. All of the founders who are customers will remain so, and additionally, National Grid will remain a minority shareholder in the new company.

"I have a strong belief in this company, which really translates into faith in our employees. That's why all of our current employees will own part of the company; it's a reflection of my belief that this team can fuel tremendous growth moving forward," said Gordon. "We have been serving the utility industry for nearly ten years. No other company can compare to our expertise, e-procurement software tools and strategic sourcing experience in this market. In recent years we've expanded to the manufacturing and distribution markets with great success. We'll continue to do what we do well, and that's to provide leading e-procurement, e-sourcing, and professional services."

"While I am very pleased that Enporion is now employee-owned, this is simply a reaffirmation of George's perpetual commitment to the employees, innovative ideas, continuous solutions improvement, and customer satisfaction," commented Enporion Product Manager, Mary Zampino, a nine-year veteran. "I have always felt that our core values of integrity, respect, loyalty, and trust have been integral to Enporion's success. Supporting equity ownership for employees simply formalizes the ownership we have always felt about the company."

"It's a unique and gratifying change when your owner/customers stop being owners but remain your biggest customers and champions," says Gordon. "Enporion's future still depends on providing them with the same high-level service they've become accustomed to while we pursue other utilities and continue to expand into the manufacturing, distribution and government markets."

About Enporion

Enporion is a supply chain management solutions and services company, providing strategic e-sourcing and e-procurement software, and related professional services. Enporion serves customers in the gas and electric utilities, manufacturing and distribution industries representing over $100 billion in annual revenues and $10 billion in spend. Enporion's Supply Chain Manager® includes catalog management, supplier enablement, spend reporting, auctions, electronic RFx, and contract management, all delivered in a Software-as-a-Service (SaaS) environment.

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