Attention Business Editors:
Bid.Com signs three year agreement with news international
Media powerhouse to use Bid.Com's dynamic pricing solutions
LONDON, UK, Sept. 19 /CNW/ - Bid.Com International Inc. (NASDAQ: BIDS,
TSE: BII), a global application provider of e-commerce solutions, today
announced it has entered into a three year agreement with News International,
the flagship media business unit of News Corp Inc., and publishers of a number
of leading newspapers including The Times, The Sunday Times, The Sun, and News
of the World. Through its combined media outlets, News International has a
readership of more than 18 million individuals, the largest in the U.K.
Bid.Com will provide e-commerce solutions and services to enable News
International's on-line ventures, including The-times.co.uk, Firedup.com, The-
sun.co.uk, to sell reader offers and branded products through the Internet
using a blend of fixed price and dynamic pricing formats. As part of the
agreement, Bid.Com will receive monthly hosting fees and a percentage share of
transaction revenues.
"Through a request for proposal process, News International examined a
number of vendors and selected Bid.Com based on a number of key factors," said
Brett Miller, General Manager of News International's Commerce Ventures. "We
were impressed by its speed of implementation, scalability of its technology
and the flexibility of its solution."
The first phase of implementation, which will involve upgrading and
broadening News International's existing e-commerce capabilities, is expected
to be completed by November 2000.
"Bid.Com continues to emerge as a partner of choice for global
organizations that want to take advantage of the Internet as a sales channel,"
said Jeff Lymburner, President and CEO, Bid.Com International Inc. "Our
offerings provide added benefits because they can be quickly and easily
customized to meet our customers' requirements."
About Bid.Com International Inc.:
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Founded in 1995, Bid.Com offers a comprehensive suite of on-line Dynamic
Pricing Solutions for business-to-business and business-to-consumer markets.
Bid.Com offers multiple on-line transaction methods, providing fixed price,
traditional auction, real-time declining price (Dutch) auction and reverse
auctions (Request for Quotation/Proposal (RFQ/RFP) all within the same
package. Thanks to award-winning modular architecture, the Bid.Com system can
be integrated with virtually any business-to-business or consumer-based
application. A growing number of organizations have made Bid.Com their on-line
sales partner in sectors such as automotive, heavy machinery, capital markets,
electronic media, wireless communications, arts and culture, and retail.
Partners include GE Capital, Research In Motion, Rogers New Media, CapGemini,
ValueVision International Inc., PricewaterhouseCoopers and The Art Vault.
Bid.Com has offices in Toronto (Ontario), Tampa (Florida), Sacramento
(California), Dublin (Ireland), and Melbourne (Australia). The company's
shares trade on both the NASDAQ National Market and the Toronto Stock Exchange
(NASDAQ: BIDS, TSE: BII).
This news release may include comments that do not refer strictly to
historical results or actions and may be deemed to be forward-looking
within the meaning of the Safe Harbor provisions of the U.S. federal
securities laws. These include, among others, statements about
expectations of future revenues, cash flows, and cash requirements.
Forward-looking statements are subject to risks and uncertainties that
may cause Bid.Com's ("the Company") results to differ materially from
expectations. These risks include the Company's ability to further
develop its business-to-business sales and operations, the Company's
ability to develop appropriate strategic alliances and successful
development and implementation of technology, acceptance of the Company's
products and services, competitive factors, new products and
technological changes, and other such risks as the Company may identify
and discuss from time to time, including those risks disclosed in the
Company's Form 20-F filed with the Securities and Exchange Commission.
Accordingly, there is no certainty that the Company's plans will be
achieved.
To receive additional information on Bid.Com International Inc. please
visit www.bid.com
-0- 09/19/2000
For further information: Contacts: At Bid.Com: Joe Racanelli, Director of Marketing, Tel: (905) 672-7467 ext. 273, Cel: (416) 587-9436, Fax: (905) 672-9928, E-mail: jracanelli@bid.com; At Porter Novelli Convergence Group: Helen Stokoe, Tel: +44 (20) 7853 2326, E-mail: Helen.Stokoe@pnicge.com |
