Asia2B and CommerceScout Announce Asia's First Integrated Circuit/Semiconductor E-Procurement Community.Business Editors HONG KONG--(BUSINESS WIRE)--Nov. 29, 2000 CommerceScout and Asia2B announced today at eLink 2000 Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. -- hosted by Commerce One (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) -- integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and semiconductor e-procurement through Asia2B international gateway community, powered by Commerce One. The design of this powerful architecture will incorporate both direct and indirect materials procurement through leveraging technologies from Commerce One and CommerceScout. CommerceScout offers both buyer and seller solutions in public and private marketplaces -- including mobile commerce messaging and e-commerce shopping cart middleware -- connecting transactions across Asia2B supplier communities. "By expanding CommerceScout functionality into Asia, buyers and sellers are exposed to the largest marketplace for integrated circuitry," said Steve Oakley, CommerceScout's 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. . "Asia2B is a perfect partner because of their existing partnerships and distribution channels throughout Hong Kong and China." Deployment of the marketplace is scheduled to begin in January 2001. The new functionality will extend both the Commerce One procurement and marketplace platforms. "From one launching pad, we can offer our clients access to semiconductors, circuitry, and MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. from a global supply base," said Ronno Lee, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Asia2B. "Asian distributors are also eager for new buyer discovery in North America. CommerceScout links several continents of electronic components buyers and sellers with very strong bill of materials The list of components that make up a system. For example, a bill of materials for a house would include the cement block, lumber, shingles, doors, windows, plumbing, electric, heating and so on. , shortage procurement, and ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. replenishment functionality." Online semiconductor procurement is expected to boom in the next several years. As large companies transition from EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. to Internet procurement, and mid-size companies embrace Web-based product acquisition, the Internet will carry more than half of the industry's procurement volume by 2004. Mark Giudici, principal analyst for semiconductor procurement services at Gartner/Dataquest, said: "This is a perfect time to deploy procurement applications for integrated circuits. CommerceScout's technology will allow for easier e-sourcing of components. Through Asia2B's reach into key Asian markets, this partnership will quickly provide a solid presence in this critical region." About Asia2B Founded in April 2000, Asia2B is a joint venture comprising eight prominent enterprises in Hong Kong, mainland China and Silicon Valley: i-Cable, SUNeVision, Jardine Matheson Group, New World China, Swire Group, WI Harper Group, Beijing Enterprises Holdings, and Commerce One. A premier provider of Collaborative Commerce Management solutions and online business procurement platforms in Asia, Asia2B aims to build and operate e-marketplace infrastructures for key industries in Hong Kong and China. The company is rapidly establishing itself as a leader in e-commerce solutions, as well as a premier e-business enabler in the transformation of brick-and-mortar companies onto the Web. About CommerceScout CommerceScout is the first company to develop and deploy next-generation multiple e-marketplace connectivity and commerce messaging tools to enhance supply chain efficiency. Initially focused on electronic components, CommerceScout offers direct materials commerce comparison and decision support tools to expedite activities such as quoting, integrated MRP/ERP volume and replenishment purchases and marketplace analytics. The company is funded by venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] Weiss, Peck & Greer and Edgewater Funds. CommerceScout is based in Newport Beach, Calif., and can be reached, toll free, at 866/GO-SCOUT (467-2688) or via e-mail at info@commercescout.com. Web address is www.commercescout.com. |
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