Wall Street Journal and OMKT PR.
Monday April 26, 8:06 am Eastern Time
Company Press Release
SOURCE: Open Market, Inc.
Open Market Is Selected By The Wall Street Journal Interactive Edition to Expand Its Successful Paid-Subscription Enterprise on the Web
Open Market Powers the Most Acclaimed Subscription Site on the Web
BURLINGTON, Mass., April 26 /PRNewswire/ -- Open Market, Inc. (Nasdaq: OMKT - news), a leading provider of Internet commerce and information publishing software, today announced that The Wall Street Journal Interactive Edition, the world's largest and most successful paid-subscription enterprise on the Web, has licensed Open Market's award-winning Internet commerce software, Transact(TM). With more than 283,000 paying subscribers, The Wall Street Journal Interactive Edition is replacing its existing commerce infrastructure and has begun implementing Transact as its subscription management engine.
''To power a site like The Wall Street Journal Interactive Edition, scalability and reliability are important requirements,'' said Tom Baker, vice president and general manager of The Wall Street Journal Interactive Edition. ''Open Market's Transact is an Internet commerce subscription management system that is able to handle our current volume and rate of growth. Its ticketing technology and distributed commerce architecture has a proven track-record with large-scale, highly demanding subscription sites.''
''The Wall Street Journal Interactive Edition has been a trail-blazer for successful online subscription-based businesses,'' said Gary Eichhorn, president and CEO of Open Market, Inc. ''As such, I am delighted that Interactive Journal has selected Open Market's Transact to power their online business into the next century.''
Open Market's Transact system adds critical back-office functionality to publishers' new or existing Web sites -_ leveraging their investment in content development and management activities. This frees publishers to concentrate on what they do best: developing and marketing compelling content. Transact allows publishers such as The Wall Street Journal Interactive Edition to identify content areas as either free, requiring a paid subscription, or available as pay-per-view premium services. The inherent flexibility of the system even allows for pay-per-view documents or software down-loads within subscription areas.
With the addition of The Wall Street Journal Interactive Edition to Open Market's customer roster, Open Market is powering many of the world's largest subscription sites on the Web.
More About The Wall Street Journal Interactive Edition
Introduced in April 1996, The Wall Street Journal Interactive Edition features continuously updated coverage of the full spectrum of business news both in the U.S. and around the world, prepared by a dedicated editorial staff, supported by the global resources of The Wall Street Journal. Subscribers have access to more than 20,000 in-depth background reports on companies, an archive of news articles, and personal news and stock portfolios. Subscribers can also access the vast Dow Jones Publications Library that features current and past articles from 6,000 newspapers, magazines and business news sources. The Interactive Journal has paid circulation of more than 283,000.
Annual subscriptions to The Wall Street Journal Interactive Edition cost $59. Subscribers to any print edition of the Journal or Barron's can subscribe to the Interactive Journal for $29. The complete subscription package also includes Barron's Online.
In addition to The Wall Street Journal and its international and interactive editions, Dow Jones & Company publishes Barron's and SmartMoney magazines and other periodicals, Dow Jones Newswires, Dow Jones Indexes, Dow Jones Interactive and the Ottaway group of community newspapers. Dow Jones is co-owner of the CNBC television operations in Asia and Europe, and also provides news content to CNBC in the U.S.
More about Open Market
Founded in 1994, Open Market, Inc. (Nasdaq: OMKT - news) is the market-share leader in Internet commerce software. Open Market's high-performance application software products and professional services allow its customers to engage in business-to-consumer and business-to-business Internet commerce, information commerce, and commercial publishing. Among Open Market's distinguished roster of global customers are many of the most popular domains on the Web, including Lycos.com, AOL.com, Time Warner's Pathfinder.com, major industrials such as Ingram Micro, Milacron, and Acer, more than 700 publishers using Folio Products, including the top 10 commercial publishers, and 10 of the world's top 13 national telephone companies. The company, headquartered in Burlington, Massachusetts, with offices in Japan, Canada, the UK, France, Germany, The Netherlands, Italy, and Australia can be reached by calling 1.888.OPEN.MKT or by visiting openmarket.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission.
Open Market, Transact, and We ARE Internet Commerce are trademarks or registered trademarks of Open Market, Inc. in the United States and other countries.
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