Rivermine Achieves Explosive Three-Year Revenue Growth Rate Exceeding 400 Percent

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Rivermine’s Growth in 2009 and Outlook for 2010 a Result of Continued Strong Corporate Demand for Cost Savings

Our strong revenue growth is a result of sustained customer demand for our market-leading expense management solutions, which save companies around the globe many millions of dollars each year

Continuing to chart impressive revenue growth despite the economic downturn, Rivermine, the leading provider of automated Telecom Expense Management (TEM) solutions, today announced its 2009 achievements and outlook for 2010. Most notably, Rivermine recorded a three-year revenue growth rate of well over 400 percent and posted nearly 40 percent organic year-to-year revenue growth in 2009. Furthermore, Rivermine announced that most of the company’s 2010 revenue will be recognized based on deals previously sold; therefore the company is on track to exceed its 2009 revenue growth in 2010.

“Our strong revenue growth is a result of sustained customer demand for our market-leading expense management solutions, which save companies around the globe many millions of dollars each year,” said Mark Logan, president and CEO, Rivermine. “We see especially strong interest in our global TEM and comprehensive mobile offerings, and we expect our revenue growth in 2010 to be the largest Rivermine has ever experienced.”

Rivermine closed 2009 on a high note. The company’s December acquisition of MBG Expense Management allowed Rivermine to further strengthen its top-tier offering with MBG’s more than 20 years of TEM services experience, marquee customers and robust solutions. The combined company manages nearly $6 billion in annual telecom spend, which encompasses roughly $1 billion in international expenses.

Also in 2009, Rivermine continued to expand its global solution through a combination of software enhancements and additions to its eXPERTGlobal managed services, which now offer comprehensive international services and capabilities for 195 countries and more than 1,100 carrier invoice formats. To give organizations more control over corporate mobile usage, Rivermine also broadened its established mobile device management (MDM) capabilities by adding real-time wireless usage management(RWUM). Rivermine has long offered MDM services including over-the-air device application management, remote wipe and kill, device provisioning, policy and password management. In 2009, Rivermine added RWUM that includes a software agent resident on mobile devices to proactively monitor, report and control usage as it occurs.

Industry analysts and the media again recognized Rivermine’s solutions in 2009. Rivermine received Gartner’s highest possible rating—Strong Positive—in its MarketScope for Telecom Expense Management Worldwide report. Rivermine also won a series of awards including the “TEM Excellence Award” from Internet Telephony Magazine, two “Product of the Year” awards from Communications Solutions Magazine and Unified Communications Magazine, and took the “Innovation of the Year” Industry Excellence Award—surpassing nine other TEM providers—at AOTMP’s 2009 TEM Conference.

The company also added two executives to its Board of Directors: former MRO Software President and CEO Chip Drapeau and former MBG CEO Michael Greenspan.

For more information about Rivermine’s global TEM solutions, please visit http://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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Eve Sheridan
Young & Associates
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