1/20/00 - SoftCare Signs Agreement with Showstar Online.com, Inc. to Launch Industry e commerce Portal
SOFTCARE EC.COM INC ("SCE-V;SFCEF-L") SHOWSTAR ONLINE.COM INC ("ABID-L") - SoftCare Signs Agreement with Showstar Online.com, Inc. to Launch - Industry e-commerce Portal
SoftCare EC.Com, Inc. ("SoftCare"), www.softcare.com, and Showstar Online.com, Inc. ("Showstar"), www.artstar.com, have entered into a binding "Letter of Intent" for an exclusive business development relationship whereby SoftCare and Showstar will integrate each others e-business solutions for Showstar's e-commerce portals, portal solutions and transaction servers. A formal agreement, outlining details of the contract, licensing terms, costs, payment schedules, roles and project scope, will be completed and announced within 45 days.
Initial sales and marketing plans will target the Who's Who in American Art artists, galleries, museums and art suppliers. Both SoftCare and Showstar are currently in negotiations with several portal projects and channel partners who are looking for end to end e-commerce solutions.
As part of the Agreement, Showstar will enter into a revenue sharing arrangement with SoftCare that will split ongoing project revenue to cover SoftCare's software licenses, software development, as well as, deployment and operational fees. The revenue percentage share will be negotiated based on SoftCare's contribution to the project.
SoftCare will be responsible for selection, development, deployment and operation of the electronic commerce solution for its part of the Showstar e-Business application. SoftCare will deploy its proprietary eCheck transaction technology and "OpenEC" software products as a base and develop additional software specific to project requirements. Showstar will be responsible for the integration of its e-commerce software, business development, sales, marketing, finance and operations of the business initiative. SoftCare will lead the management and development of project requirements and assist in developing the scope of work to initiate the project.
This deployment of SoftCare's and Showstar's respective technology goes far beyond a service provider, as it is a complete Vertical Portal and e-commerce solution for the Art Industry that can capture a significant segment of this $90 Billion US$ annual market.
John Punzo, Chairman of Showstar states, "SoftCare's technology on both the business to business level and check transaction capability, combined with our soon to be released Linux e-commerce platform, will give Showstar an unparalleled competitive advantage in the vertical art market and will lend itself to the rapid advancement of technology on our third party client portals. SoftCare provides Showstar with a unique opportunity to offer e-commerce solutions and back-end transaction services to all our clients resulting in substantial increases in our revenue potential. With SoftCare, Showstar truly will be a portal solution provider."
Martyn Armstrong, President & CEO of SoftCare states, "Showstar has created one of the few true portals on the Internet in its Artstar.com web site. By working together our complimentary technologies will allow Showstar to capture a tremendous amount of revenue by providing it's artists, galleries, museums and suppliers access to technology that would have been far too expensive to implement independently while giving art lovers the most flexible and secure transaction processing to date. There are few companies that have the creative drive, vision and the capability of delivering like Showstar. We are very excited to be working with them on this project."
SoftCare develops business relationship management software allowing companies to conduct business to business e-commerce and the creation of B2B industry portals. Our e-business management software is open and scaleable allowing for the integration with existing and future technologies, lowering operating costs and streamlining the supply chain while delivering benefits to all your business e-trading relationships.
Martyn Armstrong,
President & CEO,
on Investors Online TV
on the CTV Network,
January 22, 2000,
10:00am PST.
SoftCare EC.Com Inc. relies on litigation protection for looking statements involving known and unknown risks and statements that are not historical facts but are forward-uncertainties that could cause actual results to vary materially. TEL: (604) 983-8083
Clive Massey, Investor Relations FAX: (604) 983-8056 EMAIL: cmassey@softcare.com TOLL FREE: 1-888-SOFTCARE INET : www.softcare.com
______________________________________
(c) Corporate Dissemination Services Inc. All rights reserved.
Tel:(604) 689-1101
Fax:(604) 689-1106
RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041
|
