Tom,
Since you have shown an interest and like to "turn over every rock," I thought you might be interested in the following news release.
Sincerely,
BJ Taylor
P.S. -- I'm a novice (and poor) investor and I also subscribe to your method of turning over every rock when looking at a company's stock. It's the only way when you're not a pro or have one working for you.
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DYNAMICWEB ENTERPRISES COMPLESTES ACQUISITION OF DESIGN CRAFTING INC. AND ENHANCES EC PROFESSIONAL SERVICES DIVISION
FAIRFIELD, NJ, May 7, 1998 - DynamicWeb Enterprises Inc. (OTC Bulletin Board: DWEB), an Internet electronic commerce (EC) and electronic data interchange (EDI) company, today announced that it has completed the acquisition of Design Crafting Inc. for approximately100,000 shares of DWEB. Design Crafting is an information technology professional services company in the distribution and retail industries. The acquisition, effective May 1, 1998, enhances DynamicWeb's Internet electronic commerce and EDI consulting services by combining Design Crafting's history in providing the distribution and retail industries with software development expertise in applications involving EDI; vendor managed inventories (VMI), sales tracking and inventory management.
"DynamicWeb's acquisition of Design Crafting, a small, privately held, IT professional services firm, is further evidence of an emerging trend in electronic commerce markets," said David Alschuler, Director of Electronic Commerce Research for the Aberdeen Group. "Skilled systems integrations personnel are essential ingredients to success, and EC suppliers are competing actively to build their human resource assets."
DynamicWeb is integrating Design Crafting with its systems integration business creating a professional services group that will focus on electronic commerce, inter-enterprise and Year 2000 solutions -- making DynamicWeb a true EC managed services company.
"Businesses are being confronted simultaneously with the explosion of electronic commerce and the impending Year 2000 issues, the combination of which is overwhelming to most IT departments," said Jim Conners, President and Chief Operating Officer of DynamicWeb Enterprises. "Our customers want us to support them beyond just providing transaction services. This acquisition will position us to respond to their needs faster and more efficiently."
DynamicWeb's professional services will range from the development of EC strategies to the managing of day-to-day implementation tasks such as mapping and trading partner ramping. The services division will be led by Ken Konikowski, DynamicWeb's Executive Vice President and a member of ANSI X12 with fifteen years of EDI consulting and operating experience. Konikowski will report directly to the President and Chief Operating Officer, Jim Conners.
"Since both companies have a focus on the retail and supply-side distribution industries, combining the abilities of service is a perfect match," said Doug Eadie, President of Design Crafting. "The joining of the our companies enables DynamicWeb to compete in the electronic commerce consulting business as well as transaction services."
About Design Crafting
Located in Millburn, NJ, Design Crafting Inc. was founded by Doug Eadie in 1989. Design Crafting is focused on providing the distribution and retail industries with software development expertise in applications involving EDI; vendor managed inventories (VMI), sales tracking and inventory management. Built on this frame are the implementations of event-driven management tool development and decision support expertise.
About DynamicWeb Enterprises
Located in Fairfield, NJ, DynamicWeb Enterprises Inc. is an innovator in developing and marketing EC/EDI software and services. The company uses Internet and EDI technologies to enable companies to maximize the full business potential of electronic commerce by increasing participation and compliance with trading partners.
For additional information about DynamicWeb and its products or services visit the DynamicWeb home page at www.dynamicweb.com, send e-mail to sales@dynamicweb.com or call 1-800-4-EDI-HELP.
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