ICGE finally reacting....DuPont and Internet Capital Group Partner to Accelerate E-Commerce Development in Major Industrial Markets
WILMINGTON, Del., Feb. 18 /PRNewswire/ -- DuPont (NYSE: DD - news) and Internet Capital Group (Nasdaq: ICGE - news) today announced the formation of a joint venture that will bring greater reach, lower transaction costs, increased productivity and service to buyers and sellers of industrial goods and services worldwide.
The joint venture, called CapSpan, will leverage Internet Capital Group's business-to-business (B2B) expertise in building web-based marketplaces and DuPont's industry knowledge and strength as a large-volume buyer and supplier. Together, they will drive the development and success of neutral marketplaces with other strategic partners, including some of the companies within Internet Capital Group's network of more than 55 partner companies.
CapSpan combines the knowledge and experience of DuPont, a major industrial corporation, with the speed, technology and expertise of Internet Capital Group, the Internet's premier B2B operating company. CapSpan will provide management, growth capital, financial, technical and infrastructure capabilities designed to accelerate the development of B2B e-commerce, initially targeting areas such as apparel, chemicals, construction and e-procurement.
The joint venture facilitates DuPont's strategy to capitalize on global opportunities in the rapidly emerging Internet economy while preserving its strong presence in traditional markets and distribution channels. The newly formed company also strengthens Internet Capital Group's position as a leading B2B e-commerce company by using DuPont's significant presence as a buyer and seller in several markets to fuel the growth of its collaborative network of partner companies.
``We selected Internet Capital Group because they can most readily help us capitalize on opportunities ....." |
