FOR IMMEDIATE RELEASE
CombineNet Awarded U.S. Patent for Algorithms to Analyze and Select Bid Allocations
PITTSBURGH, PA—May 1 , 2006
CombineNet, the leading provider of advanced sourcing technologies, was recently
awarded a patent for a methodology to determine award allocations in combinatorial
auctions. Awarded by the United States Patent and Trademark Office, patent #7,010,505,
CombineNet's second patent for optimization technologies, provides additional intellectual
property protection for the company's solutions. CombineNet's industry-leading optimization
technologies facilitate Expressive Commerce by providing the ability to analyze
unlimited numbers of open-ended proposals to find award allocations that add greater
value to an organization.
This patent further demonstrates CombineNet's position as a leader in advanced sourcing
technologies," said CombineNet CEO Tony Bonidy. "The analysis power of combinatorial
optimization has allowed our customers to realize the benefits of Expressive Commerce
in reducing costs and driving innovation and supply chain efficiency through the
sourcing process."
Expressive Commerce harnesses the best parts of e-commerce and traditional face-to-face
negotiations, enabling buyers and sellers to express their needs and capabilities
fully to drive efficiency within the supply chain. The technology behind this patent
provides CombineNet's Advanced Sourcing Application Platform (ASAP) with an additional
tool for analyzing the complex data sets created by Expressive Bidding to find the
best award allocation.
The inventors of the patent are Dr. Craig E. Boutilier of Toronto, Canada, and Dr.
Holger H. Hoos of Vancouver, Canada, both of whom are members of CombineNet's Technical
Advisory Board. Dr. Boutilier is Professor and Chair of the Department of Computer
Science at the University of Toronto, an Associate Editor of the International Journal
of Artificial Intelligence Research, and a recipient of the Killam Faculty Research
Fellowship for 1997-98. Dr. Hoos is an Associate Professor of Computer Science at
the University of British Columbia in Vancouver, and is a renowned authority on
combinatorial auctions and stochastic search.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com