It just gets better and better:
messages.yahoo.com
I don't see ACOM as competition for NTPL. Rather, there is a company started about six months ago called freeagent.com that is very much like Techcellence. Freeagent.com is owned by Opus 360, which tried to buy out Techcellence recently. Netplex's "Techcellence" is the internet-abled form of "Contractor's Resources", which provides IT professionals with a corporate infrastructure. This is the hot sector coming into the market that has made NTPL such a darling among the people in the know. Riggs Bank, for example, owns something like 250,000 shares. Wall Street Associates have a much bigger stake, like 700,000 shares. Their positions are public information, so I will say it. The sector is so hot because the profit margin is huge at about 47%. Also, the number of IT professionals needing a corporate infrastructure (for billing, health benefits, 401K and retirement plans) numbers around 2 million plus and it is growing. NTPL is the most experienced and biggest in this new space, plus they have a new president that just came over from Computer Horizons to head up the fast growing E-Solutions business of Netplex. How fast is this part of NTPL growing? The industry grows at a 35% clip, and NTPL is easily beating that. They have contracts with AOL, LU, GE, and many other big companies in telecommunications and retail. The new Netplex president took Computer Horizons from an $8 stock to a $250 stock, split adjusted, and from $30 million to $200 million in six years. As companies search for IT talent, Netplex is poised to grow big time because they are scooping up the talent. Lots of IT professionals want to be independent, and they need a corporate entity. Did you know the average IT professional for Techcellence bills $160,000 per year? Imagine what happens to the bottom line as thousands and thousands of professionals sign up. And this is happening. They love Netplex, which is not a job service, but a corporate entity for the professional. You saw in the news that Netplex is starting a big marketing campaign to attract and sign up more IT professionals. This is a short primer course on Netplex. We could say much more, like their entrance into the financial community once the new president's non-compete clause expires on 12/31/99. This is a very exciting and dynamic company with a very energetic and talented and youthful CEO.
Info about NTPL competition:
ARI HOROWITZ
Chairman and CEO
Co-founder of Opus360, Ari has successfully built three technology companies. Prior to Opus360, he served as a Senior Managing Partner of USWeb Corporation (NASDAQ: USWB) after it acquired a network consulting firm he co-founded, Gray Peak Technologies, Inc., where he was President. At ICon CMT Corporation, an early stage Internet solutions provider and systems integrator, he was the Chief Financial Officer and Vice President, Finance and Business Development. ICon CMT Corp. was acquired by Qwest Communication (NASDAQ: ICMT) in 1998. Horowitz graduated with a B.A. Degree in Economics from the University of Pennsylvania.
freeagent.com
NEW YORK (September 28, 1999) - Opus360 Corporation announced today that a consortium of companies led by Safeguard Scientifics, Inc. (NYSE:SFE) has acquired a $40 million interest in the Company.The investor group's interest in partnering with the Company centers on Opus360 Corporation's ebusiness solutions for today's changing services business, particularly in the explosion of outsourcing, newsourcing and the virtual labor force. In addition, MSD Capital's (the private investment firm for Michael Dell) focus on direct acquisition of goods and services and improving supply chain efficiency drove its backing of Opus360 Corporation and the FreeAgent.comsm brand, Opus360's leading Internet service for the growing population of independent professionals.
Opus360 Corporation has developed an Internet-centric solution for putting people and projects together, and for managing a corporation's most important asset, "Human Capital."Through Opus360's Internet based suite of solutions, a corporation can manage the allocation of their entire workforce, including permanent employees, temporary employees through temporary staffing partners and independent professionals through FreeAgent.com.
"Opus360 has taken a leadership role in developing an Internet hub solution that manages knowledge workers more efficiently and provides the platform for managing the project-based, virtual workforce of the future," said Harry Wallaesa, President and COO of Safeguard Scientifics, "Their solutions for setting standards for an Internet-based resource allocation management and integrated supply chain solution for direct acquisition of labor are assets that can be leveraged across the Safeguard family, especially within our professional services partner companies.It's a great fit with our enterprise applications and e-commerce strategies!"
"We believe Opus360 will revolutionize the human resource supply chain and procurement process, much like Ariba is doing with corporate procurement of office supplies," said Bob Hoff, general partner at Crosspoint VenturesCrosspoint Ventures also funded Ariba, Inc. (NASDAQ:ARBA) a technology company that manages corporate supply chains and is a strategic partner of Opus360.
In addition to Safeguard Scientifics and MSD Capital, the consortium of financial and strategic investors that hold equity positions in Opus360 include: Cambridge Technology Ventures (Cambridge Technology Partner's (NASDAQ: CATP) private investment arm), CompuCom (NASDAQ: CMPC), Crosspoint Ventures, CDI Corporation (NYSE: CDI), SI Venture Associates (Gartner Group's (NYSE: IT) investment arm), The Roman Arch Funds (Prudential Securities' private investment arms) BancBoston Ventures, USWeb/CKS (NASDAQ: USWB), Sapient (NASDAQ: SAPE), Wheatley Partners, Arista Capital Partners (Wit Capital's venture arm), Greenhill & Co., Bain Capital Partner's Fund, Reckson Service Industries, Inc.(NASDAQ: RSII), Pennsylvania Early Stage Partners, Odeon Capital, and RH Capital Partners and..
Ari Horowitz, CEO of Opus360 Corporation said, "Our partnership with these companies is extremely important to us.Their strategic equity interest in our Company is an important component for us in maintaining our leadership position in forming the platform for managing the supply chain of knowledge workers."
About Opus360 Corporation (www.opus360.com)
Opus360 Corporation provides the leading Internet-centric solution for putting people and projects together, and for managing a corporation's most important asset, "Human Capital."Opus360 provides a suite of services across the spectrum of a project-based workforce.These web-based services enable organizations to manage their internal resources, their vendors' resources, as well as the largest virtual workforce and most diverse group of independent consultants and freelancers through freeagent.com. The Company's solutions also enable service organizations and free agent businesses to increase profitability and revenues, increase utilization rates and retention of employees, streamline project schedules, predict resource shortages and surpluses, identify bottle necks in delivery and increase customer and employee satisfaction.Opus360 Corporation is a private company backed by a consortium of investors including Safeguard Scientifics (NYSE:SFE), Crosspoint Ventures, Wheatley L.P., Cambridge Technology Ventures, Gartner Group, and MSD Capital. Opus360 is based in New York and can be reached on the Internet at www.Opus360.com. FreeAgent.comSM is a wholly owned subsidiary of Opus360 Corporation. FreeAgent.com can be reached at www.FreeAgent.com. |
