Wednesday April 26, 7:01 am Eastern Time
Company Press Release
SOURCE: eGlobe, Inc.
eGlobe Announces i1.com First Round Partners
eGlobe eCommerce Affiliate Completes Initial Partnership Arrangements
WASHINGTON, April 26 /PRNewswire/ -- eGlobe (Nasdaq: EGLO - news) today announced the completion of the initial round of partnership arrangements for
its affiliate, i1.com, which is beginning to supply on-demand business-to-business eCommerce solutions in Asia. These partnership arrangements include a total of
approximately $14 million in investment and commitments to use the services of i1.com and eGlobe.
The core partners joining eGlobe in i1.com are: Sunflower Investment Co., Ltd., an affiliate of China Metal; Ta-Ta Group, through its construction and TV Home
Shopping divisions; Walden International Investment Group, a U.S. and Chinese venture capital fund, whose investments include SINA.com and LookSmart; the
owners of Singapore-based OSIM; and Tze Shin Transportation & Terminal Company, Ltd.; as well as those announced earlier, which include the founders of
Gigamedia, a Chinese broadband portal company; Twinhead International Corporation, an Asian manufacturer of notebook PC; Chadwick Investments Ltd., a
Hong Kong based private equity investor; G. Luxon Electronics Corporation of Taiwan; and Euroc Venture Capital of Taiwan.
eGlobe remains the largest shareholder in i1.com and will provide i1.com with its IP infrastructure throughout Asia. In combination with i1.com, eGlobe plans to
extend the network of services to other regions of the world.
i1.com, formed last December by eGlobe in cooperation with i1.com management, is an eCommerce solutions provider targeted at the Asian market, particularly
greater China. i1.com supplies a growing suite of eCommerce solutions that are transparent to its business customers and which enable a company to keep its
e-Business tools -- from website server to eCommerce functionality to its customer and management information -- all under its own control. |
