To: Jenne who wrote (12057 ) 9/22/1999 8:26:00 AM From: one putt Respond to of 19080
Full story: Oracle, HP To Co-Develop Internet Commerce Systems Full Coverage Electronic Commerce PALO ALTO, Calif. (Reuters) - Hewlett-Packard Co. (NYSE:HWP - news), the No. 2 computer maker, and software company Oracle Corp. (Nasdaq:ORCL - news) said Tuesday they signed a deal to jointly develop electronic commerce systems for their businesses. The partnership was designed to integrate HP's hardware and Oracle's software allowing both companies to collaborate on sales efforts and expand market potential. Financial terms of the deal were not disclosed. The move follows several recent efforts made by Oracle, the world's second largest independent software company, to boost sales of its flagship Customer Relationship Management (CRM) software. The company said CRM, which helps companies manage their businesses, can form the backbone for commercial Internet sites. Shares of HP were off 1-9/16 at 102-7/8 on the New York Stock Exchange. Oracle's shares were off 3/4 at 45-7/8 on the Nasdaq stock market. Both markets were off by more than 1 percent at midmorning. The companies are focusing on the business-to-business market, which some see as one of the most lucrative segments of the Internet. As part of the deal the companies will jointly use and promote various software and hardware systems developed by each company. ``Customers want less complexity, better integration, and faster implementation of their Internet solutions,' said Carly Fiorina, president and chief executive of Hewlett-Packard. ``Our customers should view today's announcement as a deeper commitment on behalf of HP and Oracle to deliver world-class Internet solutions for their businesses,' she said.