CombineNet, Inc. Awarded Six U.S. Patents in 2010 for Advanced and Strategic Sourcing Optimization Methodologies

PITTSBURGH, Jan. 17, 2011 /PRNewswire/ -- CombineNet, Inc., the leading provider of advanced sourcing technologies, today announced that six new patents were awarded to the company in 2010 by the United States Patent and Trademark Office.   This brings CombineNet's total awarded patents to 16.

The new 2010 patents were awarded for CombineNet's advanced methodologies and technology approaches to optimizing and simplifying the process of sourcing goods and services from suppliers, from routine spend categories to the most complex sourcing events.

"The collection of awarded patents we hold validates our commitment to research and innovation in solving sourcing challenges for over a decade," said Rich Wilson, president and chief operating officer of CombineNet. "This gives customers of our best-in-breed advanced sourcing product numerous advantages, and our innovation is a continued key focus as we experience increasing adoption globally and across more spend categories."

The six patents awarded in 2010 are:

• Patent #7,716,101: Method for optimal winner determination in combinatorial auctions
• Patent #7,716,110: Branch on bid searching method and apparatus
• Patent #7,742,971: Preference elicitation in combinatorial auctions
• Patent #7,783,529: Market clearability in combinatorial auctions and exchanges
• Patent #7,835,980: Bidding language for combinatorial auctions and method of use thereof
• Patent #7,844,540: Concisely expressed combinatorial auction problem solving method

With these patents, key benefits to customers of the CombineNet ASAP (Advanced Sourcing Application Platform) product include: increased speed, performance, and scale for sourcing scenario development and analysis; increased flexibility on collecting and analyzing non-price data; and support for complexities found in certain spend areas.

About CombineNet

CombineNet, Inc. is the advanced sourcing technology company. CombineNet's ASAP product (Advanced Sourcing Application Platform) is an optimization-driven Software as a Service (SaaS) solution that helps customers deliver the absolute best total cost of goods and services based on their unique business needs.  CombineNet ASAP is used to speed, simplify, and centralize the sourcing of any and all spend categories from global suppliers: direct and indirect materials, all modes of transportation, and services. In the past 10 years, CombineNet has delivered more than $6 billion in bottom-line savings for businesses worldwide including General Mills, PepsiCo, Procter & Gamble, Coca-Cola, Bayer, Sears, PPG, Johnson & Johnson, and many more across all industries.  For more information, visit www.combinenet.com.

SOURCE CombineNet, Inc.