MLTX News is HUGE
Merrill Lynch and Multex.com Enter Multi-Year, Multi-Million Dollar Strategic Pa
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS EDITOR:
Merrill Lynch and Multex.com Enter Multi-Year, Multi-Million Dollar Strategic
Partnership for Web Development
Merrill Lynch to Invest in Multex.com
NEW YORK, Dec. 22 /PRNewswire/ -- Merrill Lynch and Multex.com
(Nasdaq: MLTX), the leading Internet research portal, today announced that
they have entered into a multi-year, multi-million dollar partnership to
co-develop global research and information web sites for clients of Merrill
Lynch's institutional e-commerce portal. The firms will also expand their
existing operating partnerships for research delivery and other web
development for Merrill Lynch's private client business.
As part of the strategic partnership, Merrill Lynch will acquire a
minority equity stake in Multex.com and transfer to Multex.com proprietary
research technologies developed by Merrill Lynch. Terms of the agreement were
not disclosed.
For institutional clients, the two firms will jointly develop the
next-generation platform for real-time delivery of Merrill Lynch investment
strategy and securities research. Teams from Multex.com, from Merrill Lynch's
new institutional e-commerce division, Direct Markets, and from Merrill Lynch
Research will build global web sites with localized content and e-commerce
functionality.
The companies will also develop cutting-edge technology to personalize and
broadcast real-time research alerts and market information across multiple
platforms, such as pagers, cell phones and the Internet. Further, the content
offered will include expanded market data and news, as well as interactive
investor conference calls to give investors real-time access to Merrill
Lynch's leading team of research analysts worldwide through multiple channels.
"Our mission is to provide corporate and institutional investor clients
around the globe with a portal that offers seamless integration of research,
advice, analytics, and trading capabilities," said Thomas W. Davis, head of
Merrill Lynch's Corporate and Institutional Client Group. "This strategic
partnership with Multex.com will provide the research delivery component of
that portal-giving our clients the wisdom and insights of the world's best
research team, delivered with the immediacy and convenience of the best
technology platform."
A second aspect of the transaction is that the companies will extend
Multex.com's existing relationship with Merrill Lynch's Private Client Group.
Multex.com currently hosts and operates the www.askmerrill.com web sites
(U.S. and international), showcasing Merrill Lynch's leading global research
capabilities, and provides database and technology services for Merrill Lynch
Online(SM) (www.mlol.ml.com) and Trusted Global Advisor(SM), supporting more
than 500,000 Merrill Lynch clients and 14,000 financial consultants.
Multex.com also provides key technology and support for the recently launched
MLDirect(SM), Merrill Lynch's self-directed investor channel
(http://www.mldirect.ml.com). Merrill Lynch also has agreed to extend its
platinum sponsorship on Multex Investor(SM) for an additional two years
(http://www.multexinvestor.com).
"This agreement with Multex.com gives Merrill Lynch a strong partner with
world class web technology and financial content, as well as global reach to
millions of online investors," said John L. Steffens, Vice Chairman of Merrill
Lynch. "With Multex.com, we can continue to build our collaborative and
decision-based platforms for financial consultants using the Trusted Global
Advisor workstations and our growing family of Merrill Lynch OnLine digital
properties."
"Multex.com is significantly expanding its core business of providing
financial services firms with services to connect with both institutional and
individual clients and with prospects via the Internet. This expansion
solidifies Multex.com's role in helping the industry transition its capital
markets business online," said Isaak Karaev, Chairman and CEO of Multex.com.
"Merrill Lynch is fast becoming the leader in online financial services, and
we are excited to help them do so."
"With this understanding, Merrill Lynch's top-ranked equity and fixed
income research unites with a top research and information portal worldwide,
creating a powerful combination for all of our institutional and individual
investor clients," said Executive Vice President Jerome P. Kenney, head of the
Global Securities Research & Economics Group. Merrill Lynch's team of 800
research analysts covers more than 3,700 companies globally.
"This strategic alliance solidifies our relationship with one of the
world's leading financial services firms and leverages our respective
strengths to build Multex.com's presence in key markets around the globe,"
said Jim Tousignant, President of Multex.com.
Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 44 countries and total client assets
exceeding $1.5 trillion. As an investment bank, it is the top global
underwriter and market maker of debt and equity securities and a leading
strategic advisor to corporations, governments, institutions, and individuals
worldwide. Through its Asset Management Group, the company is one of the
world's largest managers of financial assets, which total approximately
$514 billion. For more information, visit Merrill Lynch's web site at
(http://www.ml.com).
Merrill Lynch's Direct Markets business, formed in April 1999, aims to
become the leading global provider of integrated, electronically-delivered
offerings to corporate and institutional clients -- including research,
investment advice, analytics, trading and servicing. Direct Markets is headed
by Michael Packer. Laurence A. Tosi, Director of Business Development, will
be managing the new partnership with Multex.com on behalf of Direct Markets.
Multex.com (http://www.multex.com) is the world's largest interactive
community of investors, analysts and brokers. Through partnerships with
Bloomberg, Reuters and Dow Jones, as well as premier financial web portals
including AOL, Quicken.com, Quote.com, and CBS Marketwatch, Multex.com's
financial information is available on over 200 financial websites.
Focused on content, connectivity, commerce and community, Multex.com
offers products and services across three business lines -- business-to-
business, business-to-consumer, and content. Using the Internet, and through
customized intranets, Multex.com provides up-to-date investment research,
earnings and financial data to more than two million individual investors,
institutional investors and financial professionals, including mutual fund
managers, portfolio managers, brokers and their clients. Multex Investor
(http://www.multexinvestor.com), is one of the Internet's most popular
destinations, targeting the rapidly growing online individual investor market.
In a recent stock transaction, Multex.com acquired Market Guide, Inc.
(http://www.marketguide.com), the benchmark for comprehensive financial
information.
SOURCE Merrill Lynch and Multex.com
/CONTACT: Timothy Gilles of Merrill Lynch, 212-449-0475,
ortimothy_gilles@ml.com; or Courtney Darby, courtney@middleberg.com, or
MelissaFox, both of Middleberg & Associates, 212-888-6610, for Multex.com/
/Company News On-Call: prnewswire.com or
fax,800-758-5804, ext. 555800/
/Web site: merrilllynch.comhttp://www.multex.com/
Dec-22-1999 14:31 GMT
Symbols:
US;MER US;MLTX |
