SOURCE: ICG Commerce

January 22, 2007 10:00 ET

ICG Commerce Appoints Rick Bunker Chief Information Officer

Experienced IT Executive to Lead Company's Technology Development Initiatives

PHILADELPHIA, PA -- (MARKET WIRE) -- January 22, 2007 -- ICG Commerce, a leading procurement services provider, today announced that it has appointed Rick Bunker as Chief Information Officer. Bunker, 45, has served as interim head of Technology & Information Management since September 2006. Based in the company's Philadelphia area headquarters, he will continue to direct the company's strategy to provide customers better access and utilization of the information in ICG Commerce's proprietary sourcing, category management and buying center databases.

"Rick is truly an asset to our management team. His tremendous experience will drive our information technology capabilities as a critical component to the company's growth, global expansion and cost competitiveness in the market," said Carl Guarino, Chief Executive Officer, ICG Commerce. "His leadership will help us provide our customers with information and analytics that will allow them to better understand, control and optimize their spend."

Prior to joining ICG Commerce, Bunker was CTO of GSI Commerce, where he led the infrastructure, operations and architecture teams. He previously served as a partner and management consultant at Nathanson and Company, where he managed the negotiation, development and execution of strategic outsourcing consulting engagements for providers and clients. Bunker has also held several executive positions including Vice President at State Street Global Advisors, Managing Director and CTO of Internet Capital Group, CEO of Reality Online and CIO of SEI Investments.

"ICG Commerce is a dynamic company in a rapidly growing industry in which technology is a fundamental component," said Rick Bunker. "We are in the unique position of outsourcing billions in spend across many industries and analyzing the vast amount of information available to help our customers increase their savings. This vantage point is key to our company's strategy to create value for our customers by improving quality and responsiveness while reducing costs."

About ICG Commerce, Inc.

ICG Commerce ( is a leading Procurement Services Provider exclusively focused on helping companies achieve greater control and increased value from the spend they manage. The company offers sourcing and ongoing operational buying services that enable companies to manage more spend, ensure compliance and drive continual improvements. By working with dozens of leading procurement organizations, ICG Commerce brings its execution-based, continually compounding experience to every customer.

ICG Commerce is a privately held company founded in 1992, and a member of Internet Capital Group's (NASDAQ: ICGE) network of partner companies. The company has been recognized by Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing.

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