[2] Banacci and Commerce One Announce Joint Venture for Business-to-Business e-Commerce Network.MEXICO CITY Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi , Mexico and WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)-- Dec. 14, 1999-- New Joint Venture Will Establish First B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Electronic Marketplace in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Extending Reach of Commerce One Global Trading Web Grupo Financiero Banamex-Accival ("Banacci"), Mexico's main financial group, and Commerce One, the leading provider of global business-to-business ("B2B") e-commerce solutions, today announced a joint venture that will offer a B2B electronic marketplace for Latin America. Through direct efforts as well as partnerships, the new company will link buyers and sellers throughout Latin America including Mexico and the rest of the world. Banacci and Commerce One have signed a non-binding memorandum of terms and expect to sign definitive agreements before the end of the year. The new company will operate an e-commerce portal in Mexico based on the Commerce One MarketSite portal solution to provide B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. capabilities to a broad customer base including the corporate customers of Banco Nacional Banco Nacional was a bank from Brazil. It was taken over by Unibanco in 1995. The Nacional brand is better known as main sponsor of Ayrton Senna during most of his racing career in Formula 1 (1985-1994). de Mexico ("Banamex," Banacci's commercial banking subsidiary). Additional portals in other Latin American countries List of American countries Nations:
Under the agreements to be entered into by Banacci and Commerce One, it is contemplated that Banacci will license the Commerce One Solution for the development of a B2B e-commerce platform based in Mexico and Latin America, and Commerce One will provide technical, marketing and deployment expertise to accelerate the launch of the Banacci services. As part of the equity partnership between the companies, it is anticipated that Commerce One will grant Banacci an option to purchase up to 1.5 million pre-split Commerce One shares of Common Stock at $348.44 per share, in exchange for the right to receive shares in the new company. The exchange of these options is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent certain events, including a U.S. Exchange or Nasdaq listed IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. by the new company. "The joint venture with Commerce One is a major element of Banacci's Internet strategy," said Roberto Hernandez, Banamex chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "As Mexico's leading bank for corporate and retail clients, Banamex occupies a privileged position in the payments system of the country. From this strategic vantage point, we have a unique opportunity to develop e-commerce in Mexico and other Latin American countries." Banacci leads the Mexican financial sector in the Internet banking business. The Bank's portal (www.banamex.com) offers a wide array of financial products and services, that range from retail and investment banking to insurance and telecommunication services. In addition, through Avantel, the joint venture with MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Worldcom, it also holds a leading position in the Mexican ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. and data transmission markets. As the first bank to tap the B2B e-commerce market, Banamex leverages its close ties with a wide collection of Mexican companies This is a List of Mexican companies:
"Banacci has understood the magnitude of the effect that e-commerce will have on Latin American business," said Mark Hoffman, president and CEO of Commerce One. "We believe that our leadership in electronic commerce coupled with Banacci's strong relationships throughout Latin America will enable us to quickly deliver a series of regional trading portals and provide superior levels of customer support and service." Commerce One is delivering a Global Trading Web for B2B e-commerce, allowing trading partners around the world to do business through vertical and regional portals running on the Commerce One MarketSite portal solution. Commerce One operates its flagship portal, Commerce One MarketSite, in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Current regional MarketSite operating partners include British Telecommunications (BT) in the United Kingdom, NTT NTT Nippon Telegraph and Telephone Corporation NTT New Technology Telescope NTT National Technology Transfer, Inc NTT Name That Tune (TV game show) NTT National Tree Trust NTT Number Theoretic Transform Communications in Japan Japan currently possesses one of the most advanced communication networks in the world. Telephone Telephones - main lines in use: 60.3 million (1997) '''Telephones - [. , Cable & Wireless Optus in Australia and SESAMi.com in Southeast Asia. In addition, most recently, Commerce One entered into a non-binding memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with General Motors Corp. to launch GM TradeXchange, a MarketSite portal for the automotive industry. About Banacci Banacci is Mexico's leading financial group. Following a universal banking strategy, the Group offers a variety of financial services to companies and individuals, which include commercial and investment banking, insurance and fund management. Banamex, founded in 1884, is Mexico's largest commercial bank in terms of assets, loans, deposits, and equity. The Bank, which has always been at the forefront of innovation and product development in the Mexican financial market, has an extensive distribution network of more than 1,200 branches and 3,000 ATM's located throughout the country. About Commerce One Commerce One is the leading provider of electronic commerce solutions that dynamically link buying and supplying organizations into real-time trading communities. The Commerce One Solution, comprised of Commerce One BuySite and Commerce One MarketSite, enables companies to significantly reduce operational costs and increase efficiency by automating the entire indirect goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. supply chain. As a result, enterprise organizations are able to realize a strategic competitive advantage as well as a rapid return on investment. Commerce One is located in Walnut Creek, Calif., and can be reached by phone at 800/308-3838 or 925/941-6000 or via the Internet at http://www.commerceone.com or http://www.marketsite.net. Forward Looking Statements Certain statements made in this press release by Commerce One are not historical facts but are "forward looking statements" and may involve risks and uncertainties which could cause actual future results to differ materially and adversely from those anticipated by such statements. Included among the factors that could affect Commerce One's performance are: general economic conditions; fluctuations in operating results; its ability to effectively manage future growth, to retain and efficiently integrate our executive management team, and to identify, hire, train and retain, in a highly competitive market, individuals highly skilled in the Internet and its rapidly changing technology; significant revenue concentration in a limited number of clients; the lack of long-term contracts; its ability to enter into, and retain its existing, strategic relationships; market acceptance, rapid technological change, a decline in Internet usage, and intense competition in its market; its ability to effectively integrate the operational, managerial and financial aspects of future acquisitions; Year 2000 issues including those affecting Commerce One and its clients; and its ability to obtain financing when required. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's Form S-1. Commerce One, BuySite, BuySite Enterprise Edition, BuySite Hosted Edition and MarketSite are either trademarks or registered trademarks of Commerce One. Other product and company names mentioned herein might be the trademarks of their respective owners. |
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