News Release:
07/27 12:59 Aden Expands E-Commerce Technology Licensing Agreement; Agreement with
Aden Expands E-Commerce Technology Licensing Agreement; Agreement with MercExchange Covers Travel Services, Other Markets
OMAHA, Neb.--(BUSINESS WIRE)--July 27, 1999--Aden Enterprises, Inc. (OTC:ADEN) today announced that it has entered into an expanded patent licensing agreement with MercExchange, LLC, allowing Aden to market transactional technology to a broader set of companies in the travel services industry and to pursue e-commerce technology applications in other industry sectors.
According to Mike Luther, Vice Chairman of Aden, "This revised licensing pact with MercExchange is a major development for Aden. First, it allows us to create a broader array of relationships with leading suppliers in the travel services industry that want to grow their business through e-commerce.
"Now we can give these suppliers the proper e-commerce tools to offer bid/ask pricing for their goods and services - and as a result help them grab a greater share of the market, unload excess inventories of perishable' items like tickets and rental units, and reach businesses or consumers directly with their brand instead of a distributor's. This is a real advantage of the technology we offer."
When suppliers choose to provide their products through another distributor like Priceline.com, they lose the ability to interact directly with their customers and are limited to reverse auction'-style transactions. Aden will utilize the technology to offer joint venture partners a means of offering a full array of branded e-commerce options.
"A good example of a travel services company that is leading the way with an online presence is Budget; their Bidbudget.com auction product is terrific," says Luther. "Our patented technology could help enhance their market position and share of the online rental market."
"The agreement between Aden and the MercExchange reflects our acute awareness of the opportunities to penetrate the travel sector and other sectors where price- and time-sensitive and/or high-volume transactions take place," according to Tom Woolston, founder of the MercExchange.
"Aden is staffing their company with some of the top technology personnel in the US, and particularly with the recent acquisition of Azumano they already have a strong presence in the travel services market. We see them as the right partner to help bring the MercExchange's patented technology to this and other sectors."
Examples of other industry sectors where Aden expects to apply this technology include financial services, telecommunications, utilities, and other traditionally non-liquid markets.
Aden Enterprises purchased Azumano Travel Service, a large Oregon-based company in April 1999. Aden is currently doing business on the Web as Azumano.com and a corporate name change is pending.
Certain information above contains forward-looking statements that may involve risk and uncertainties. Aden Enterprises believes its expectations are based on reasonable assumptions. However, no assurances can be given that its goals will be achieved. Factors that could cause actual results to differ materially include, but are not limited to, changes in federal, state and local regulations. --30--KMK/ph*
CONTACT: MercExchange
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