DynamicWeb Engages Raymond James & Associates, Inc.
Investment Banker to Assist In Guiding And Funding Company's Growth
FAIRFIELD, N.J.--(BUSINESS WIRE)--Jan. 11, 1999--DynamicWeb™
Enterprises, Inc. (OTC Bulletin Board: DWEB - news), a developer of Internet electronic commerce and EDI business solutions, today announced that it has engaged the services of Raymond James & Associates, Inc. (NYSE: RJF - news) to assist it in the process of shaping and funding the Company's aggressive growth plan.
Steve Vanechanos Jr., Chief Executive Officer of the Company said, ''Until now our growth has been constrained primarily by the availability of capital at efficient or affordable terms. Recently we have added significant new clients such as Rite Aid and Service Merchandise. An investment banking relationship with a firm of Raymond James' reputation is essential to continue and accelerate our growth.''
Daniel R. Bryant, Vice President at Raymond James & Associates, Inc. stated, ''We are enthusiastic about the opportunity to work with DynamicWeb''.
Raymond James has the 7th largest brokerage network in the United States with more than 3,200 financial advisors, over 600,000 individual clients accounts. For the past 5 years the firm has ranked as one of the top stock picking equity research departments by the Wall Street Journal. In its role as a leading investment banking firm it has substantial experience working with Internet and EDI companies. Additional information can be found on the Internet at rjf.com.
Located in Fairfield, NJ, DynamicWeb Enterprises, Inc. is a leading provider of Internet services and software for enabling business-to-business electronic commerce. DynamicWeb's EDIxchangeBuy provides an Internet-based electronic commerce solution for Fortune 1000 companies that expands EDI participation and compliance with their suppliers.
DynamicWeb's EDIxchangeBuy customers include Southern New England Telephone (NYSE: SBC - news), Rite Aid Corporation (NYSE: RAD - news), Service Merchandise (NYSE: SME - news) and Linens 'N Things (NYSE: LIN - news). DynamicWeb also provides EDIxchange, a complete turnkey EDI outsourcing service. EDIxchange customers include Russ Berrie (NYSE: RUS - news) and Church & Dwight Co., Inc. (NYSE: CHD - news). EDIxchangeSupport, the Company's EC consulting service, customers include Nabisco Holdings Corporation (NYSE: NA - news) and Toys R Us, Inc. (NYSE: TOY - news).
Additional information is available at http//www.dynamicweb.com.
This press release contains forward-looking statements. All such statements involve risks and uncertainties, including, without limitation, the risks detailed in DynamicWeb's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially.
This release is available on the KCSA Worldwide website at www.kcsa.com.
Contact:
DynamicWeb Enterprises, Inc.
Steve Vanechanos Jr., CEO
973/244-1000
or
KCSA
Robert Giordano/ Joseph A. Mansi
212/682-6300, ext. 289 / 205
Monday January 11, 9:42 am Eastern Time
Company Press Release |
