Bentley to Acquire Crump Barter, the Largest Barter Network in North America with 180 Local Exchanges and 50,000 Merchant Members.Business Editors LOS ANGELES--(BUSINESS WIRE)--Aug. 4, 2003 Bentley Communications Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) has reached an agreement in principal to acquire Crump crump v. crumped, crump·ing, crumps v.tr. 1. To crush or crunch with the teeth. 2. To strike heavily with a crunching sound. v.intr. Barter Systems Inc., with its predominantly North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. network of 180 local barter exchanges barter exchange barter n → Tauschbörse f and approximately 50,000 merchant members that trade through them. Joe Crump will become a member of the Bentley Board of Directors and manage Bentley's barter operations. Crump's growing membership represents approximately 30 percent of the barter exchanges in the U.S. and about 50 percent of those in Canada. It was founded in 1998 to bring efficiencies to the barter industry by providing a clearinghouse through which members of different barter exchanges worldwide can make available each other's inventory and services and trade seamlessly with one another. Bentley has historically focused on the implementation of alternative financial systems and ecommerce services. It recently announced its intention of being a major force in the barter industry. "We feel, as do many knowledgeable barter professionals, that Crump Barter is the best positioned company within the industry," said Gordon Lee Gordon Lee may refer to:
"A distinctive characteristic of the barter industry is the multitude of local and regional barter exchanges throughout the U.S. and Canada that provide valuable intermediary services to the companies engaged in barter," said Mr. Lee. "A great many of them are already part of Crump Barter Systems. We want to empower these individual exchanges with our forthcoming state of the art, user-friendly, online system that will allow for integrated real-time transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. for barter dollars and a variety of currencies and payment methods." "By joining with Bentley," said Mr. Crump, "we will have the resources to rapidly increase the size of our network, better assist our local exchanges to profitably grow and encourage our member companies to use our barter system on a regular and expanding basis. Our considerable experience with all aspects of barter software packages, systems and procedures, will be of great value to launching Bentley's new online barter exchange." The software that Bentley has already begun will enable barter exchanges, and the companies that barter through them, access round the clock to a user-friendly, online trade exchange -- tailored to their needs. All transactions, including barter and fees, will be settled in real time at the point of sale. In addition to the exchange, the software will enable companies to build their own online stores specifically for barter 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. , using their own computers through popular browsers, eliminating the need to acquire special software. A beta version A pre-shipping release of hardware or software that has gone through alpha test. A beta version of software is supposed to be very close to the final product, but, in practice, it is more a way of getting users to test the software in the first place under real conditions. is expected to be ready by year's end. "With the acquisition of Crump Barter, we will take the major step, that will propel us towards establishing the nation's largest and most efficient online barter marketplace," concluded Mr. Lee. "We see barter as the most extraordinary online business opportunity today and for the foreseeable future. We want to do for barter what eBay (Nasdaq:EBAY) is doing for auctions. We want to be the catalyst that helps raise the domestic trade and barter industry to unlimited heights." About the Barter Industry The International Reciprocal Trade Association estimates that just in the U.S., over 470,000 companies actively participate in barter for a total of over $12 billion in annual sales. Over 65% of the corporations listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. are presently using barter to reduce surplus inventory, bolster sales and ensure that production facilities run at near capacity. The U.S. Department of Commerce estimates that 20 to 25% of world trade is now barter, and corporate barter is already a growing 20 billion dollar worldwide industry. About Bentley Communications Corporation: Bentley is positioning itself to be the domestic leader in the fast growing trade and barter industry. Bentley has historically focused on the implementation of alternative financial transactions and ecommerce services. In barter it has an ideal opportunity to apply its proprietary systems to enable barter exchanges, and the companies that barter through them, access round the clock to a user-friendly, online trade exchange -- tailored to their needs. A prime focus is to bring instant payment processing to the barter industry so that any merchant member will soon be able to transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting trades online and in real time, whether it is credit, debit or ATM cards An ATM card (also known as a bank card, client card, or cash card) is an ISO 7810 card issued by a bank, credit union or building society. Its primary uses are: Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see the company's website(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. database system. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion