Business Exchange Automation Leader NextSet Acquires B2B Exchange Technology From Upside Hot 100 Casbah Corporation.Business Editors/High-Tech Writers 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. , Calif.--(BUSINESS WIRE)--May 15, 2000 NextSet Gains Rich 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 Exchange Functionality Designed on Open Internet Exchange See IXP and NAP. Standards NextSet, the premier provider of open, high-performance business exchange automation solutions, announced today it has acquired from Casbah Corporation revolutionary Internet Exchange technology for an undisclosed amount of cash and NextSet stock. Casbah Corporation was named this week as one of Upside's Hot 100 Private Companies. This acquisition accelerates the realization of NextSet's vision to automate highly distributed network trading environments -- from auctioning and RFQ/RFP exchanges, to multi-parameter, real-time exchanges and dynamic supply and distribution chains. With this acquisition, NextSet gains the right to Casbah's core Internet Exchange technology, relationships with existing customers, along with key management and technical talent. "For B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. to reach its potential, the infrastructure must be able to handle huge volumes of transactions with reliability and scalability and also be deeply integrated into backend systems," said Simon Yencken, founder 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 NextSet. "Casbah's vision was synergistic with NextSet's overall view of how networked business exchange environments will develop." 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. Scott Latham at AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Research, Casbah's forte was letting customers create something like the Chicago Mercantile Exchange Chicago Mercantile Exchange (CME) Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures. for managing supply chains. "Casbah is one of a small number of companies hoping to supply applications to let Market Makers thrive." Casbah's technology complements NextSet's exchange platform, which allows Global 1000 companies and Net Market Makers to evolve into the complex network trading environments of the future. "I am pleased to have the Casbah team joining a company with such a deep technology and management base," said Ben Smith, acting CEO of Casbah Corporation. "We are excited to implement our vision of a software platform to handle the complexity and scalability requirements of real world supply chain trading as part of NextSet's leading vision for handling the myriad emerging sophisticated requirements of B2B e-commerce." About Casbah Corporation Casbah Corporation is the technology provider of choice for B2B Net Market Makers. Casbah's Internet Exchange technology provides a complete solution for the next generation of Internet exchanges - virtual trading networks that allow multiple buyers and sellers to conduct automated transactions in real time, using multiple decision criteria, while simultaneously interacting with parties throughout the supply chain. Casbah customers and strategic partners include EDS-A.T. Kearney Ventures, Petroleum Place, CapacityWeb, and Daewoo Information Systems. About NextSet NextSet is the leading provider of open, high-performance Business Exchange Automation solutions. The NextSet BusinessExchange(tm) and ASPExchange(tm) product lines deliver advanced e-marketplaces that can be readily optimized for competitive advantage. The NextSet Evolution(tm) and NextSet ExchangeWare(tm) platforms enable the world's leading businesses to rapidly deploy advanced business exchange features and functionality, integrate back end systems and automate their B2B e-commerce transactions. This patent-pending, comprehensive and open platform enables configurable and highly scalable distributed applications and e-commerce transactions across global network exchanges with the maximum flexibility. NextSet is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1999 with over 140 employees, headquartered in Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. . NextSet maintains state-of-the-art technology and development centers in Palo Alto, Bangalore and Chennai, India, and has regional offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Sydney. NextSet can be reached at +1 650-251-4100. Please visit our website at www.nextset.com. Note to Editors: NextSet, the NextSet logo, Evolution, ExchangeWare, BusinessExchange and ASPExchange are trademarks of NextSet Software Inc. |
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