Art-Ex.com To Add 2,000 New Customers Through Acquisition of WetCanvas! Appoints Scott Burkett Chief Technology Officer.Business and Hi-Tech Editors NEW YORK--(BUSINESS WIRE)--Sept. 20, 2000 Art-Ex.com, Inc. announced plans to acquire WetCanvas!, one of the largest award winning Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the communities for visual artists, making Art-Ex.com the fastest growing application service provider for art portals, online auction sites, artists, dealers, art buyers and soon to be managing over a 500,000 artworks This article is about the software drawing application. For art objects, see work of art. ArtWorks is an advanced vector drawing package for RISC OS created by Computer Concepts (now Xara) in 1991. It has been developed by MW Software since 1996. . The acquisition involves all sites under the company's brand, including www.wetcanvas.com , www.artisnation.com , and www.art-agent.com . The proposed acquisition, is part of an overall strategy to service the multi-billion dollar art and collectibles market, increasing the use of Internet technology to deliver robust, secure, and manageable content for online business vendors and their client base, while ensuring accountability and asset control. Upon completion of this acquisition, over 2,000 small business customers will be added to Art-Ex's growing customer base. Terms of the acquisition were not disclosed, however, all three sites under the WetCanvas! brand are profitable. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Richard Graveley, president 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. of Art-Ex, "WetCanvas! has a proven track record of offering innovative commerce and content solutions to the global community of visual artists. The addition of WetCanvas! enhances Art-Ex's ability to provide a core technology platform to serve artists, art publishers, galleries, art portals, auction sites, and art buyers. This will provide our small business customer the ability to rapidly interface and conduct business through our transparent exchange services. We are excited about this acquisition as it strengthens and broadens our services." Scott Burkett, who created and development the awarding WetCanvas!, is being appointed Chief Technical Officer of Art-Ex.com, and will manage the integration and development of the company's application products and services. Mr. Burkett is uniquely qualified to assume the responsibility of this position, and possesses a true passion for excellence. Prior to joining Art-Ex, he was Vice President of Technology at MetalMaker, a vertical portal A Web site that provides news, articles and services to a particular industry such as IT, finance and retail. It is the industry-specific equivalent of the general-purpose portal on the Web. Also called a "vortal." See portal, corporate portal, business intelligence portal and Web hub. in the steel industry. Prior to MetalMaker, Mr. Burkett held technology management positions within iXL and Cambridge Technology Partners, helping both companies through hyper A Greek work meaning "above" or "more than." It is used as a prefix to technical concepts and products to convey a more advanced or more automatic capability. growth periods. Over the past ten years, Mr. Burkett has provided technical supervision, development and operation to over fifty e-business ventures, serving such names as Chase Manhattan, Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Visa, Bellsouth, and GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) . "Over the past two years, we've built the biggest, fastest growing and most utilized web destinations for visual artists," states Burkett. "Now, with the introduction and integration of the Art-Ex technology platform, we are in a position to offer a broader array of services to our members and customers. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , instead of competing with online art ventures, Art-Ex provides a flexible infrastructure solution for the entire market, with the added ability to leverage its products and services across multiple verticals, not just the art and collectibles market. I am excited to be part of this dynamic venture." The online sector of the art and collectibles market is exploding. According to Unity Marketing, 4% of art sales are currently being conducted online through auction and fixed priced venues. That number is expected to increase substantially. About Art-Ex, Inc. Art-Ex.com facilitates management of tangible assets Tangible Asset An asset that has a physical form such as machinery, buildings and land. Notes: This is the opposite of an intangible asset such as a patent or trademark. Whether an asset is tangible or intangible isn't inherently good or bad. across multiple e-marketplaces. Art-Ex provides maximum reach and maximum richness of content delivery for buyers and sellers in global fixed priced and auction environments. Its goal is to be the customer led market of choice and industry innovator. As an Application Service Provider (ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). ), the Company helps its customers achieve desired goals through increased market exposure and participation. The Company's measured successful execution is greater liquidity of assets and increased efficiencies in management and distribution. About WetCanvas! www.wetcanvas.com , www.artistsnation.com , and www.art-agent.com provide services including free web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , self-managed websites, e-commerce services, art asset management, product and service matching, and the most active on-line community for training in both artistic instruction and online business issues. These services are provided to over 2,000 artists, which has in turn allowed WetCanvas! to aggregate nearly 200,000 works of art and thousands of art buyers. |
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