Accel Partners, Gen3 Partners Proceed With Launch of Internet-Based Parts and Service Exchange for the Trucking Industry.Business Editors BOSTON, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New and PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , California--(BUSINESS WIRE)--April 20, 2000-- Meritor Investment Withdrawal Sets Stage for Broad Range of Industry Buyers and Sellers to Participate in FleetScape.com Accel Partners, a leading venture capital firm in California's Silicon Valley, and Gen3 Partners, an integrated strategy and technology firm based in Boston, announced today their intention to proceed with plans to develop and launch FleetScape.com, one of the first business-to-business (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 ) Internet-based service parts trading exchanges to serve the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. commercial medium- and heavy-duty truck aftermarket industry. The U.S. commercial truck aftermarket business currently generates about $25 billion in parts transactions annually. The announcement followed a decision by Meritor Automotive (NYSE NYSE See: New York Stock Exchange : MRA MRA Medical Record Administrator. MRA Magnetic resonance angiography, see MR angiography ) to withdraw its investment in the venture, formerly called FleetWorks.com, citing a belief among some in the industry that, as a supplier, Meritor's equity participation might compromise the neutrality of the exchange. "The market opportunity this exchange represents, and the cost and efficiency synergies it will create for the trucking industry, remain as promising as ever. We're glad to be forging ahead and expect to launch the FleetScape.com site in the 3rd Quarter as planned," said Jim Swartz, founding partner of Accel Partners. "We have enjoyed working with Meritor during the planning stages. Now, as we move towards launch, we look forward to securing broader participation in FleetScape.com by the full range of aftermarket buyers and sellers," said Jim Sims James Morton Sims (born May 13, 1903, Leyton, Essex, died April 27, 1973, Canterbury, Kent) was an English cricketer. Jim Sims represented Middlesex in 381 first-class matches matches between 1929 and 1952 as a right-handed batsman and off-break bowler who scored 7173 runs , 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. of Gen3 Partners. Sue Kampe, who had previously been named as President and CEO of the new company, will remain with the venture, as will the entire FleetScape.com management team. Kampe has more than 18 years of experience in automotive information and systems technology. She joined Meritor in 1996 from Allied Signal Automotive, where she was director of Global Information Services See Information Systems. and Systems. In 1997, Kampe was named Meritor's senior vice president and chief information officer. FleetScape.com will operate as an independent company located in Boston, Massachusetts. The site will function as a comprehensive, open electronic marketplace for commercial truck aftermarket parts and services, and will be available to all industry participants. For the first time, buyers and sellers will be able to use one Internet service to seamlessly reach all of their parts and service providers with the click of a mouse. Moreover, OEMs, truck dealers, parts distributors and service providers will be able to electronically co-locate on one common site to reach existing and new customers simply and quickly. Established in 1984, Accel Partners (www.accel.com) has a history of excellence and innovation in the venture capital business. With more than $1.4 billion under management, Accel has a long legacy of helping entrepreneurs build world- class companies. Gen3 Partners (www.gen3partners.com) is an integrated strategy and technology company dedicated to creating, architecting and launching Internet-enabled, B2B enterprises in partnership with established companies and Internet start-ups. Based in Boston, the company currently has 80 employees, and expects to open offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and San Francisco by the summer of 2000. |
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