News - Alliance With PartsBase.com
escrow.com To Integrate Additional Transaction Management Solutions Into Aviation Portal PartsBase.com
Strategic Alliance Extends Existing escrow.com Service Offerings For the Aviation, Aerospace and Defense Industries' Largest E-Commerce Marketplace
SANTA ANA, Calif., May 2 /PRNewswire/ -- escrow.com(TM) and its operating subsidiaries, collectively providing comprehensive online transaction management and escrow services, today announced it has entered into a strategic alliance with PartsBase.com, the world's largest and most comprehensive online aviation marketplace, to extend its service offerings to include online escrow for the aviation, aerospace and defense industries' e-commerce marketplace.
The strategic alliance between the two companies enables escrow.com to expand its visibility into the aviation industry via a preliminary 90-day automatic click-through period, which endorses escrow.com as PartsBase.com's preferred transaction management solutions provider. After 90 days, escrow.com's comprehensive online services will be fully integrated, providing a secure and scalable business transaction platform for more than 100,000 PartsBase.com customer requests per month.
"Our agreement with PartsBase.com is an important one, allowing us to expand our transaction management services into this exciting new market," said John Snedegar, CEO of escrow.com. "We're happy to be providing this
medium of exchange to an entirely new segment."
escrow.com has adapted Micro General Corporation's highly reliable escrow and trust accounting technology for the Internet. Fidelity National Title Company (a subsidiary of Fidelity National Financial, Inc.), is the largest provider of escrow services in the world. The foundation for the software platform that escrow.com utilizes has handled over $1 trillion in transactions for Fidelity and other related companies.
"The partnership with escrow.com further strengthens our position as the leading portal for the international aviation and aerospace markets," said Mike Siegel, CFO of PartsBase.com. "The enhanced functionality this agreement brings to our site allows us to easily and securely broaden our service offerings."
About escrow.com, Inc.
escrow.com(TM) and its operating subsidiaries, founded by Micro General Corporation (Nasdaq: MGEN) and Fidelity National Financial (NYSE: FNF), offer comprehensive online transaction management services, including online escrow
and logistics tracking as well as other financial services for the Internet.
Its architecture and infrastructure provide a secure and scalable business transaction platform with integrated transaction management solutions for business-to-business e-commerce as well as online auctions and exchanges. For more information, please visit: escrow.com.
About PartsBase.com, Inc.
PartsBase.com is an online provider of Internet business-to-business e-commerce services for the aviation industry. The company's global e-marketplace provides a means for over 18,000 members in more than 125 countries to buy and sell new, used and overhauled aviation parts, perform auctions, look for a job or employee, and sell aircraft in an efficient, competitive, and cost-effective manner. Current members of PartsBase's e-marketplace include Boeing, Honeywell, Federal Express, Pratt & Whitney, Virgin Atlantic, Northwest Airlines, Air France and United Parcel Service.
This press release contains forward-looking statements.... |
