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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: hoffy who wrote (77896)	2/23/2000 9:58:00 AM
From: marquis103	Respond to of 108040

CNQR. Nortel's press release about the alliance. Russ Wednesday February 23, 9:16 am Eastern Time Company Press Release SAFECO Corporation Enters Groundbreaking Marketing Alliance. Agrees to Take Equity Position in Concur Technologies, Inc. SEATTLE--(BUSINESS WIRE)--Feb. 23, 2000--SAFECO (Nasdaq:SAFC - news) today announced a strategic alliance with Concur Technologies, Inc. (TM) of Redmond, Wash. (Nasdaq:CNQR - news) to deliver an eBusiness solution for small and medium sized businesses. SAFECO also announced it has agreed to make an investment in Concur Technologies and, after its investment, will occupy a seat on the company's board of directors. The strategic alliance centers around the launch of Concur's new product, Concur Business Advantage(TM), that connects small and medium sized business customers directly to leading suppliers that offer a vast array of goods and services at pricing discounts of up to 65 percent. ''The decision to partner with Concur underscores SAFECO Corporation's continued expansion and leadership in eBusiness strategies,'' said Randy Talbot, president of SAFECO Life & Investments, who will occupy SAFECO's seat on Concur's board. ''We plan to continue implementing eBusiness solutions that help our agents build relationships with their customers, and, in this case, particularly with small and medium sized businesses.'' With its 1997 acquisition of American States Business Insurance, SAFECO has a national distribution network of more than 17,000 independent agents and financial professionals, and a base of 500,000 small and medium sized business customers, making SAFECO a leader in offering insurance and diversified financial solutions to this market. ''We're good at meeting customer needs within the business-to-business marketplace, including through Internet desktop solutions, such as our SAFECOM risk management solution,'' said Randy Stoddard, president of SAFECO Property & Casualty Cos. ''Adding Concur Business Advantage to our product franchise will make SAFECO and its agents even better; and our savvy and powerful distribution network in Concur's target market will help Concur Business Advantage succeed. It's a natural fit!'' This is the first time a major insurer and financial services giant like SAFECO will garner an exclusive internet marketing arrangement for its own products. SAFECO will be the exclusive supplier of insurance and business equipment lending offered to businesses through the Concur Business Advantage commerce network. It also will be a supplier of investment products. Two other Fortune 500 giants will converge with SAFECO and Concur to leverage their combined strengths and assets. Nortel Networks (NYSE/TSE:NT), a global leader in telephony, data, wireless and wireline solutions for the internet, will expand its existing alliance with Concur to electronically offer its network of business product and service suppliers. Microsoft (NASDAQ:MSFT - news) will provide marketing and technology expertise to help develop and deliver this comprehensive, Web-ready workplace eCommerce solution to the marketplace. Concur is the leading provider of workplace eCommerce solutions that automate costly and inefficient purchasing and business processes among employees, partners, and suppliers. Its flagship product, Concur eWorkplace(TM), integrates Concur's suite of workplace eCommerce solutions. ''Concur Business Advantage allows us to bring the benefits of electronic commerce to small and mid-sized businesses that are excited to realize the benefits the booming business-to-business eCommerce market can offer,'' explained Steve Singh, chairman and chief executive officer of Concur. ''Through our alliance with SAFECO, we continue to deliver on our strategy to provide maximum value to small and mid-sized business customers by offering pricing traditionally reserved for multi-billion dollar corporations.'' SAFECO's investment in Concur will be made subject to regulatory review. SAFECO, in business since 1923, is a Fortune 500 diversified financial services company based in Seattle. SAFECO and its more than 17,000 independent agents and investment advisors provide premier insurance and financial services through a variety of channels, including the Internet, to individual and business customers.