Bowstreet and Vitria Team to Automate Industries On the Internet.Business/Technology Editors Inside the Kaleidoscope SAN FRANCISCO--(BUSINESS WIRE)--March 16, 2000 Combined technologies will provide end-to-end solution for next-generation trading networks, from back-end process automation to dynamic business webs Bowstreet and Vitria Technology Inc. (Nasdaq:VITR VITR Vitria Technologies (stock symbol) VITR Visible and Thermal Infrared Radiometer ) are pairing their e-commerce and e-business technologies to let companies for the first time automate their back-end business processes and quickly deploy the results across the web as part of customized "business webs" serving thousands of customers, suppliers and partners. Bowstreet (www.bowstreet.com) is the leading provider of XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. infrastructure for 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 ) web marketplaces, and Vitria (www.vitria.com) is the leading eBusiness platform provider. Together, the companies will enable the next generation of trading partner networks, creating entire industries of companies whose core business processes will be fluidly interconnected over the web. Each company in these networks will be able to offer unique interactions to each business partner, all controlled by line-of-business managers. An online sporting goods store, for example, could integrate hundreds of equipment distributors into a single storefront, consolidate order processing and distribution, and provide a unique look, feel, selection and pricing to each customer, supplier and partner. Vitria lets business analysts automate their companies' core business processes, such as customer service and inventory replenishment, by drawing graphical models that directly automate those processes, and that manage the automated flow of data from system to system. Bowstreet calls these automated business processes, which are wrapped in Extensible Markup Language See XML. (language, text) Extensible Markup Language - (XML) An initiative from the W3C defining an "extremely simple" dialect of SGML suitable for use on the World-Wide Web. http://w3.org/XML/. (XML), "web services." Bowstreet treats web services as B2B building blocks, letting line-of-business managers find, consume, organize, mix, match, assemble, customize, publish, repurpose and trade web services. The result is instantaneous "business webs" of interconnected companies' business processes. "The combination of the Bowstreet(TM) Business Web Factory and Vitria's BusinessWare product will provide customers with true end-to-end e-business transformation solutions that extend from complex systems-to-systems integration through back-end process automation to massively customized business webs," said JoMei Chang, 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. and president of Vitria. Vitria is a member of the 1999 UPSIDE Hot 100, the Herring 100 (1999), and the Open Systems Advisors Inc. (OSA 1. OSA - Open Scripting Architecture. 2. OSA - Open System Architecture. ) Crossroads 2000 A-List Award. "Vitria's process automation expertise will help Bowstreet business webs bring the visualization of customers' legacy data over the web in a new and highly useful form that can be repurposed in many different ways," said Bob Crowley, president and CEO of Bowstreet. "Vitria's business processes will enrich our business webs, and our business webs will drive next-generation trading partner networks." The Bowstreet/Vitria partnership announcement came on the same day Bowstreet announced: -- the Bowstreet(TM) Business Web Exchange, a revolutionary Internet community where companies can find, acquire and publish the "web services" of other companies and build their businesses in ways they never imagined. -- the Bowstreet Business Web Factory 2.0, a B2B platform that lets non-technical business people create, manage and customize hundreds of thousands of B2B web relationships on the fly. The Bowstreet Business Web Factory is the first product to support the Directory Services Markup Language (DSML (Directory Services Markup Language) A set of XML tags that defines the contents of a directory. Developed by Bowstreet, Inc., Tewksbury, MA (www.bowstreet. ), a specification Bowstreet, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) (NYSE NYSE See: New York Stock Exchange : IBM), Microsoft (Nasdaq: MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ), Novell (Nasdaq: NOVL NOVL Novell, Inc. (stock abbreviation, AMEX) ), Oracle (Nasdaq: ORCL ORCL Oracle (stock symbol) ) and the Sun-Netscape Alliance (Nasdaq: SUNW/NYSE: AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ) recently submitted to industry standards bodies. About Vitria Vitria Technology, Inc. is a leading business platform provider. Vitria's eBusiness platform, BusinessWare, automates mission-critical business processes across the extended enterprise, reducing time to market, shortening lead times, lowering operating costs, and increasing customer satisfaction. Vitria is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (Nasdaq:VITR) based in Sunnyvale, California. For more information, call 408-212-2700, visit the company's web site at www.vitria.com, or send email to info@vitria.com. About Bowstreet Bowstreet provides the XML infrastructure to automate the creation of dynamic and customized B2B web marketplaces that enable new business models, extend companies' market reach and generate new revenue. These "business webs" link an infinite number of customers, suppliers and partners in minutes instead of months and at a fraction of the cost of today's web development methods. Founded in January 1998, Bowstreet was ranked as one of the top e-commerce start-ups in the country at the Enterprise Outlook Conference, and has raised $90 million from leading 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] , global investment banks and strategic corporate investors. For more information, visit www.bowstreet.com or call 603-436-9100. This press release includes forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, risk as related to market acceptance of Vitria's product, deployment delays or errors associated with these products, hardware platform incompatibilities, reliance on a limited number of customers for a majority of revenue, need to maintain and enhance certain business relationships with system integrators and other parties, ability to manage growth, activities by Vitria and others regarding protection of proprietary information, release of competitive products and other actions by competitors, Year 2000 problems and economic downturns in either domestic or foreign markets. These forward-looking statements are generally identified by words such as "expect," "anticipate," "intend," "believe," "hope," "assume," "estimate" and other similar words and expressions. Bowstreet is a trademark of Bowstreet.com Inc. BusinessWare is a registered trademark of Vitria Technology, Inc. All other company names and products are trademarks or registered trademarks of their respective companies. |
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