Clarus To Acquire iSold.com.Business Editors ATLANTA--(BUSINESS WIRE)--April 27, 2000 Clarus adds distinct market advantage with addition of dynamic pricing and complex auctioning Clarus Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLRS CLRS Center for Labor Research and Studies CLRS Central Launch and Recovery Section CLRS Claims Legal Research System ), a leading 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 ) e-commerce solution provider, announced today that it has entered into a definitive agreement to acquire iSold.com(TM), a dynamic pricing and complex auctioning company. Following the closing of the acquisition, these value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. trading services will be seamlessly integrated with the Clarus SupplierUniverse(TM) network and immediately available with Clarus(TM) eProcurement and Clarus(TM) eMarket. With this offering, Clarus will provide an end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. including sourced purchasing through eProcurement and eMarket, which will be complimented with dynamic pricing and complex auctions. "Clarus continues to build and strengthen the network trading service available for use with the Clarus solutions and independent exchanges," said Steve Jeffery, 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 Clarus. "The acquisition of iSold.com will allow us to offer complex auctioning and dynamic pricing under the Free Trade, no transaction fees pricing model." The iSold solution is differentiated through its ability to provide seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. of both traditional auctioning services and custom auctions. This agreement will allow Clarus to offer 10 auction types, out-of-the-box, such as English, Dutch or Reverse. A wizard-based administrator also will allow for quickly configuring custom auctions based upon buyer, supplier and market maker requirements. The iSold.com auction engine is designed to be configurable and enables companies to integrate dynamic pricing applications quickly and easily into e-commerce initiatives. "The alignment of the Clarus and iSold.com visions was obvious from our first meeting," said Eric B. Schorvitz, Ph.D. and co-founder of iSold.com. "By integrating the ability to provide dynamic pricing to the Clarus B2B commerce offerings, Clarus customers will benefit from decreased development time and iSold.com's theoretical and practical expertise with dynamic pricing." Clarus provides a comprehensive suite of B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. solutions, including Clarus(TM) eProcurement, Clarus(TM) eMarket, Clarus SupplierUniverse(TM), Clarus(TM) eXpense, Clarus(TM) View and Clarus(TM) Fusion. The Clarus solutions are built exclusively to take advantage of the latest Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. technologies to deliver reliability, scalability and cost performance advantages essential for e-commerce solutions. The closing of the acquisition is subject to the completion of customary closing conditions and is expected to be completed within the next five business days. About iSold.com iSold.com develops state of the art auction software for businesses interested in developing an auction site or adding auction technology to an existing site. Rather than having to spend months creating an auction site, iSold.com enables you to integrate dynamic commerce applications quickly and easily into your e-commerce initiatives. About Clarus Atlanta-based Clarus Corporation (www.claruscorp.com; NASDAQ: CLRS), a leader in business-to-business (B2B) e-commerce, provides Web-based procurement software Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is and services that exploit the global marketplace of the Internet to manage corporate purchasing and enable digital marketplaces. Clarus is the clear alternative in B2B e-commerce supporting the open, direct Internet model based on the ClarusDirect(TM) architecture. This architecture directly connects buyers and suppliers to maximize cost savings, improve procurement efficiencies, and create new revenue opportunities for large and mid-sized companies. Clarus solutions leverage its SupplierUniverse trading network for managed content, trading services and supplier integration. Clarus solutions are being deployed at customer sites including Burlington Northern Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. Corp., Cinergy, Comcast Corporation, First Data Corporation, Gjensidige NOR Gjensidige NOR was a Norwegian bank and insurance company that was in existence between 1999 and 2003. The company was created when the two savings banks Sparebanken NOR (bank) and Gjensidige (insurance) were merged in 1999. , MasterCard International, MetLife, Parsons Brinckerhoff, Perot Systems and Wachovia. THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN RISKS INCLUDING THAT THE BUSINESS OR PROSPECTS EXPECTED BY THE COMPANY AS A RESULT OF THIS ANNOUNCEMENT MAY NOT OCCUR. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE ALSO SUBJECT TO OTHER RISKS AND UNCERTAINTIES, INCLUDING THOSE DISCLOSED IN OUR REGISTRATION STATEMENT ON FORM S-3 FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON 2/7/2000. Clarus and SupplierUniverse are trademarks of Clarus Corporation. Throughout this release, software and hardware products are mentioned by name. In most, if not all, cases, these product names are claimed as trademarks by the companies that manufacture the products. It is not our intention to claim these names or trademarks as our own. |
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