Hartcourt Forms Strategic Marketing Partnership With Leading eBusiness Developer Mahadev Next Generation e-Business, e-Banking, and e-Security Infrastructure Products To Be Exclusively Marketed by Hartcourt Subsidiaries in China
LOS ANGELES, Oct 17, 2000 /PRNewswire via COMTEX/ -- The Hartcourt Companies Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com today announced that it has entered into an exclusive marketing agreement with Mahadev, a pioneer in eBusiness solutions with cutting-edge products developed for e-Business, e-Banking, and e-Security Internet infrastructure. Under the agreement, Hartcourt and its subsidiaries, StreamingAsia and Sinobull Financial Group, have received exclusive rights to market Mahadev's products and solutions in Greater China, including Hong Kong.
The Hartcourt-Mahadev partnership provides a comprehensive, secure, cost-effective, reliable, easy to adopt, deploy and manage, end-to-end e-Business backbone infrastructure for any large enterprise, especially those involved in international B2B E-commerce businesses. The solution provides a solid foundation for integrating applications and scaling to billions of transactions for any e-Business needs. The products portfolio includes bzBanking(TM) for banks, financial institutions, brokerage firms, clearing houses, financial networks and hubs, credit unions and exchanges; bzCommerce(TM) for manufacturers, distributors, resellers, retailers, internet service providers and internet portals; and bzSecure(TM) for any large e-Business
operation.
With the addition of Mahadev's dynamic load balanced architecture and total end-to-end industry applications, Hartcourt's Internet Infrastructure Group will be able to provide cost-effective, highly secure turnkey solutions to the wide market of private and government Chinese businesses looking to evolve within Greater China's Internet space.
Dr. Charlie Q. Yang, CEO of Hartcourt, said, "We are pleased to have been chosen by Mahadev as its marketing partner for the Greater China region. We admire Mahadev's pioneering expertise in building world leading e-Business backbone infrastructure. The revenue generating potential from marketing Mahadev's solutions through Hartcourt's subsidiaries is expected to be significant."
Srinivas Polisetty, CEO and President of Mahadev, commented, "Hartcourt's subsidiaries in China have a very impressive client base. We are looking forward to working with Hartcourt and its subsidiaries, especially StreamingAsia and Sinobull, to jointly deploy the best and most affordable e-Business solutions for China's market."
About Mahadev
Mahadev is a leading eBusiness solutions provider in developing Internet infrastructure for major corporations. It is the largest and most successful Internet Applications Development firm in India with offices in US, Europe, India, and Singapore. Mahadev's customers are able to deliver advanced, highly scaleable web sites, while maintaining their brand integrity and legacy support throughout the process. It has developed strategic relationships with IBM, Compaq, Microsoft, Novell, Hewlett-Packard, Sun, marchFIRST, Serra Nova, and others. Some of the companies already benefiting from Mahadev's solutions include Cisco, RSA Data Security, Gap, Oracle, Citibank, Banana Republic, Netcom, and Old Navy. Detailed information on Mahadev can be obtained via the company's Web site, www.mahadev.com.
About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People's Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt's business goal over the next three years is to complete a series of IPOs or spin-offs focused on four main divisions: StreamingAsia, the streaming content (video/audio) web-casting and web hosting leader in Hong Kong; SinoBull Financial Group, the multi-media financial data provider and online securities trading platform; the Broadband ISP and Internet Infrastructure Group; and Hartcourt Capital Inc., the financial E-Finance transactions platform offering online banking, securities, insurance, equipment leasing, credit, and B2B transaction settlements. Detailed information on Hartcourt can be obtained via the company's Web site, www.hartcourt.com.
About StreamingAsia
StreamingAsia (www.streamingasia.com) provides content publishers Web portals with services for the delivery of "streaming" or live and on-demand video and audio content over the Internet. It was the first company in Hong Kong to provide real time corporate conference Internet broadcasts, as well as the ability to develop a broadband network infrastructure to stream cutting-edge multi-media content. StreamingAsia has delivered high quality integrated web services to an impressive list of clients, including The Stock Exchange of Hong Kong, The Securities and Futures Commission of Hong Kong, iAsiaWorks, iSteelAsia, PSINet Hong Kong, and E!Online Asia.
Forward-looking statements
Certain statements in this news release may constitute "forward looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.
SOURCE The Hartcourt Companies, Inc.
CONTACT: Jack Westfield, President of Hartcourt Capital, 310-410-7290,
JWestfield@Hartcourt.com
URL: streamingasia.com
mahadev.com
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