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Wednesday July 26, 3:53 pm Eastern Time
Company Press Release
SOURCE: PurchasePro.com
PurchasePro.com and I-Storm Join Forces to Deliver Turnkey Online E-Business Sales Channels for Mid-Size Businesses
LAS VEGAS and MOUNTAIN VIEW, Calif., July 26 /PRNewswire/ -- PurchasePro.com, Inc. (Nasdaq: PPRO - news) the leader in browser-based, business-to-business e-commerce solutions, and I-Storm, Inc. (OTC Bulletin Board: ISTM - news), a leading click and mortar e-business developer, have announced a joint effort to deliver customized, turnkey e-commerce solutions enabling mid-size businesses to quickly build robust online sales channels.
The I-Storm/PurchasePro.com solution bundles I-Storm's consulting services, proven methodology and process for e-channel building with PurchasePro.com's industry leading e-marketplace enabler, e-MarketMaker. The benefit of the I-Storm/PurchasePro.com e-marketplace solution is that it brings both business expertise and technology infrastructure to businesses that need help building a scalable online sales channel.
``The solution will allow companies that are building an online marketplace the ability to create a robust revenue stream through the Internet,'' said Calbert Lai, president and chief executive officer of I-Storm. ``PurchasePro.com's e-MarketMaker solution enables companies to establish active exchanges faster than any other solution available. Leveraging PurchasePro.com's marketplace technology coupled with Computer Associates' Jasmineii intelligent eBusiness platform gives I-Storm the ability to deploy the most potent e-marketplace solutions for our partners at Internet speed.''
``The combination of I-Storm and PurchasePro.com will bring immediate value-added solutions to businesses of all sizes,'' said Charles E. Johnson, Jr., chairman and chief executive officer of PurchasePro.com. ``This is an extension of our strategy to partner with best-in-class providers, leveraging their key relationships to provide integrated e-commerce solutions.''
Under terms of the agreement, PurchasePro.com will be a strategic I-Storm partner and acquire an equity interest in the company. I-Storm will also sign an agreement to become a value-added reseller of the PurchasePro.com suite of e-marketplace powering solutions, which includes e-MarketMaker, v-Distributor and e-Procurement. The two companies have also jointly agreed to integrate PurchasePro.com's technology into I-Storm's e-commerce platform.
I-Storm will integrate into the I-Storm/PurchasePro.com marketplace platform a set of advanced tools from CA, an equity investor and strategic partner of I-Storm. Jasmineii, Neugents, and a suite of other technologies will provide quick integration of the I-Storm e-commerce solution into an existing business infrastructure and will enable new functionality like 3-D visualization, data mining and intelligence and analysis capabilities.
``Integrating CA products into the I-Storm/PurchasePro.com marketplace enabling platform will give an exchange builder the most advanced tools for quickly integrating this solution into any existing technology infrastructure and enable the marketplace with customer data mining and performance predictive capabilities that are not available today,'' said Lai.
About PurchasePro.com
PurchasePro.com, Inc., the leader in Internet business-to-business e-commerce, operates the PurchasePro.com exchange and powers private marketplaces with its highly scalable, browser-based e-commerce engine. The PurchasePro.com exchange and the private marketplaces employing its technology make it easy for businesses of all sizes to buy and sell a wide range of products and services. PurchasePro.com enables businesses to compete more efficiently by meaningfully reducing procurement costs and greatly increasing employee productivity. A key element of PurchasePro.com's strategy is to develop sales and marketing relationships with industry leaders including AOL, IBM, Sprint Corp., and Office Depot, Inc. The company provides extensive support and training programs. For information call toll free at 888-830-4600 or in Las Vegas at 702-316-7000 or visit www.purchasepro.com.
About I-Storm
I-Storm, Inc. partners with successful brick and mortar companies to develop and build successful online sales channels. I-Storm's expertise in e-business strategy, site development and retail operations, coupled with its willingness to invest in the opportunities it identifies, affords mid-market companies a unique opportunity to quickly get to market with highly competitive e-commerce solutions.
Combining the roles of an outsource service provider and an e-business incubator, I-Storm builds and operates world-class online selling channels, harnessing best-of-breed technologies and innovative business practices drawn from its experience as a Silicon Valley pioneer in e-commerce and interactive marketing. By leveraging the existing business's brand, customer base, scale and support infrastructures, I-Storm is able to focus entirely on site development and growth, sharing in the risks and rewards of the new channel. For more information, please visit I-Storm at i-storm.com.
NOTE
The statements made in this release that are not historical facts contain forward-looking information and projections or views of management that involves risks and uncertainties. Important factors that may cause actual results to differ include, but are not limited to, the impact of competitive products and services, each company's ability to manage growth and to develop e-Business, the effect of economic and business conditions, changes in technology and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
This press release includes forward-looking statements which are subject to the ``Safe Harbor'' created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements (which involve the company's plans, beliefs and goals, refer to estimates or use similar terms) involve certain risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the risks of technology development and the risks of competition that can cause actual results to differ materially from those in the forward looking statements. The company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements. For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc., including the section entitled ``Factors That May Affect Results'' in its 10-K filing for the period ended December 31, 1999 and its 10-Q for the quarter ended March 31, 2000, which is available from the company on request and on the Internet at the SEC's Website, www.sec.gov.
SOURCE: PurchasePro.com
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