Houghton Mifflin Harcourt Engages ICG Commerce to Reduce Costs of Outside Expenditures

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Leading publisher will leverage indirect procurement capabilities to deliver bottom-line savings

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We continue to see leading companies look to indirect procurement as an area that presents significant savings opportunities, while strategically allocating internal resources toward core business activities

ICG Commerce today announced that it has signed a four-year agreement with Houghton Mifflin Harcourt Publishing Company, the world's largest publisher of educational materials for pre-K-12 schools, to provide ongoing sourcing and category management services. The Company will leverage ICG Commerce's deep category expertise, supported by a robust market information and technology platform, to drive cost reductions across its indirect spending in areas including IT, Telecommunications, Marketing, Facilities Management and Travel.

Recognizing the importance of focusing internal resources on core competencies and market expansion opportunities, particularly in the current market, Houghton Mifflin Harcourt engaged ICG Commerce to quickly tap into additional resources and expertise needed to aggressively manage its indirect expenses.

"Partnering with ICG Commerce will enable Houghton Mifflin Harcourt to continue to focus on providing superior service to our employees, drive purchasing efficiencies and enable cost savings that can be reinvested in growth opportunities targeted at our core markets and customers," said Greg DuMont, senior vice president of Operations at Houghton Mifflin Harcourt.

Houghton Mifflin Harcourt evaluated a number of solutions to support its cost reduction initiative, including a technology-centric alternative. The Company ultimately recognized that depth of expertise, market insight and breadth of experience were the key drivers of sustainable cost reductions and selected ICG Commerce based on its demonstrated ability to help dozens of companies realize significant savings.

"We look forward to tapping into ICG Commerce's indirect procurement infrastructure and engaging them as an extension of our team to gain greater visibility and control over our spend," said Chet Taff, vice president of Indirect Procurement at Houghton Mifflin Harcourt. "The partnership will enable us to expand our influence and deliver measurable cost reductions and improved supplier value."

This engagement follows several new customer signings for ICG Commerce in recent months, including Whirlpool Corporation, Teva Pharmaceuticals and a global software provider, bringing the Company's total spend under management to more than $10 billion.

"We continue to see leading companies look to indirect procurement as an area that presents significant savings opportunities, while strategically allocating internal resources toward core business activities," said Carl Guarino, Chief Executive Officer, ICG Commerce. "We are pleased to be selected by Houghton Mifflin Harcourt to provide the infrastructure and expertise to help them achieve their savings goals."

About Houghton Mifflin Harcourt
Boston-based Houghton Mifflin Harcourt Publishing Company is a global education leader and the world's largest publisher of educational materials for pre-K-12 schools. The Company publishes a comprehensive set of best-in-class educational solutions, ranging from research-based textbook programs to instructional technology to standards-based assessments for students and educators. The Company also publishes an extensive line of reference works and award-winning literature for adults and young readers. With origins dating back to 1832, Houghton Mifflin Harcourt combines its tradition of excellence with a commitment to innovation. To learn more about Houghton Mifflin Harcourt, visit http://www.hmhpub.com.

About ICG Commerce
ICG Commerce is the leading procurement outsourcing specialist delivering comprehensive source-to-pay services. Results-driven leaders access ICG Commerce's experienced resources and market intelligence to better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control.

ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group's (NasdaqGM: ICGE - News) network of partner companies. The company has earned recognition from Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing. For more information: http://www.icgcommerce.com

CONTACT:
Shannon Parish
ICG Commerce
484-690-5446

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