Monday December 6, 1:07 pm Eastern Time
Company Press Release
SOURCE: Open Market, Inc.
Corel Selects Open Market's Transact for its E-Commerce and Portal Strategy
BURLINGTON, Mass., Dec. 6 /PRNewswire/ -- Open Market, Inc., (Nasdaq: OMKT - news), the market share leader in Internet commerce software, today announced that Corel Corporation (Nasdaq: CORL, Toronto: COR), the internationally recognized developer of award winning graphics and business productivity applications, has licensed Open Market's Transact(TM) commerce management application to power Corel Corporation's new e-commerce initiatives.
``We're building our e-business with Open Market's Transact because it meets our requirements for a solution with out-of-the-box functionality,' said Carey Stanton, executive vice president of business development at Corel Corporation. ``Transact will enable us to meet our rapid implementation schedule and can easily handle the e-commerce business models that we have planned. We also found Transact to be a scalable product that can support our e-business initiatives as our business grows.'
Corel will initially be taking advantage of the real time payment functionality of Transact, the ability of Transact to manage multiple business lines, and its battle-tested subscription functionality to manage the following two lines of businesses offered through its Web site:
-- Corel recently launched its Linux© operating system, Corel©
LINUX© OS, making a no-charge download of the software available at
its Web site, www.corel.com. As part of the Linux operating system,
Corel will be providing hosted hard drive storage service over the Web.
With Transact, Corel will be able to automatically charge customers on
a monthly or yearly basis for storage space.
-- Corel will also be launching an online printing service that will
enable Corel customers to create fun and creative graphics online and
output them on clothing, gifts and other items.
Corel chose Open Market's Transact because it was flexible and scalable enough to handle different business models selling both subscriptions and physical goods. Corel has plans for several additional e-business initiatives. By using Open Market's Transact, Corel has the infrastructure in place to support its growing e-commerce business.
``Corel needed a product that they could rely on to support a wide range of customers from businesses to business as well as end user consumers,' said Jeff Bussgang, vice president of marketing at Open Market, Inc. ``Open Market's Transact can easily support Corel's current e-commerce business with complete order management, reporting, and customer service tools.'
About Corel Corporation
Corel Corporation is an internationally recognized developer of award-winning graphics and business productivity applications. Development of market-leading products such as the CorelDraw© line of graphics applications and the Corel© WordPerfect© Suite of business tools is continually evolving to meet the demands of the corporate, retail and academic markets. Corel Corporation recently announced its Corel Linux OS which will enable ordinary users to have the ease of use of today's operating systems with the power of the UNIX OS underneath. Committed to value, compatibility, choice and open standards, Corel develops products for the Windows©, Macintosh©, UNIX©, Linux© and Java(TM) platforms. Corel's common stock trades on The NASDAQ Stock Market under the symbol CORL and on the Toronto Stock Exchange under the symbol COR. For more information visit Corel's Web site at www.corel.com.
About Open Market
Founded in 1994, Open Market, Inc. is the market-share leader in Internet commerce software with more than 30,000 merchant licenses sold worldwide and over 12,000 in production. Open Market offers an integrated set of open, scaleable applications that enable enterprises to move their businesses to the Web. Open Market's products enable companies to build dynamic, personalized, revenue generating Web sites that are cost effective, easy to manage and quickly adapt to changing business requirements. Among Open Market's distinguished roster of global customers are many of the most popular domains on the Web, including Lycos.com, AOL.com, and the Wall Street Journal Interactive Edition; major industrials such as Acer, Ingram Micro, Milacron, and Siemens; and 10 of the world's top 13 national telephone companies. Open Market's content management software is used by companies including Lucent Technologies, Financial Times of London, Hitachi, and Chase Manhattan Bank. The company, headquartered in Burlington, Massachusetts, has a presence in 30 countries. Open Market's international head office is in the UK with additional offices in Australia, Canada, France, Germany, Italy, Japan and The Netherlands. Open Market can be reached by calling 1-888-
OPEN-MKT (toll-free) or 1-781-359-3000 in the U.S. or +44 (0)1753 838 000 in the U.K. or by visiting openmarket.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, the Company's ability to integrate FutureTense in its operations, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission.
Open Market, Transact, IPS, ShopSite, and FutureTense are trademarks or registered trademarks of Open Market, Inc. in the United States and other countries. All other names are used for identification purposes only and may be trademarks of their respective owners.
SOURCE: Open Market, Inc.
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and News: Corel Corp (Toronto:COR.TO - news; NasdaqNM:CORL - news)
Open Market Inc (NasdaqNM:OMKT - news)
Related News Categories: banking, computers, internet, ISDEX, software
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