IBM has announced an agreement to acquire Emptoris for an undisclosed amount.

Emptoris makes software that works to add intelligence to procurement and supply-chain operations with spend, supplier and contract management. The acquisition is the latest addition to IBM's Smarter Commerce initiative the company launched earlier this year. The initiative aims to help companies respond to shifting customer buying patterns.

"Procurement officers need to manage the full engagement, integrating suppliers with key internal systems, and have the capability and visibility to manage compliance and mitigate supply risk," said Patrick Quirk, CEO of Emptoris. "That is the value we bring to the procurement organization."