StarCite Reports Excellent Results for Q3 2006.Key Customer Wins, Enhanced Supplier Relationships, Increased Global Momentum and Strong Developments in Marketplace Drive Success PHILADELPHIA -- StarCite, Inc., and OnVantage, Inc. which recently announced their pending merger expected to create the largest provider of On Demand Global Meeting Solutions[TM], today announced excellent growth for the third quarter, with commerce flowing through their online marketplaces up 51% year to date on a combined pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis and a significant number of new Fortune 500 client wins. The merger is expected to close by the first quarter of 2007. "We've been delighted by the progress at both StarCite and OnVantage. The combined company will have the scale, resources and intellectual capital to serve both meeting planners and the supplier community with a truly global solution," said StarCite 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. Mike Boult. "The market response to the merger announcement and StarCite's enhanced value proposition has been tremendous. We've enjoyed a series of major new business wins, and our momentum continues to grow. We're looking forward to completing the merger and continuing to further the cause of strategic meetings management around the world." To manage change and growth of the soon to be merged company, Boult announced a new addition to StarCite's leadership team, Edward Steinberg, who joins as Vice President, Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . Steinberg most recently led human resources at Synygy, a provider of incentive compensation software and services. At Synygy, Steinberg helped manage the company's global expansion, opening and staffing Synygy's offices in India and Romania. Steinberg joined Synygy as one of its earliest employees and held positions in HR, operations, and business development during which time the company experienced tremendous growth. Under his leadership, Synygy received national recognition for its human resources practices, the Workforce Magazine Optimas Award for Vision. Steinberg holds a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Psychology and Organizational Dynamics from George Washington University George Washington University, at Washington, D.C.; coeducational; chartered 1821 as Columbian College (one of the first nonsectarian colleges), opened 1822, became a university in 1873, renamed 1904. . Major Client Growth and Expansion New strategic partnerships and customer signings- In the third quarter, StarCite and OnVantage signed a number of new corporate clients, including: Allergan, American Financial Group, Coors Brewing Co., Honeywell, LOMA lo´ma n. 1. (Zool.) A lobe; a membranous fringe or flap. , Network Appliance (1) A specialized device for use on a network. For example, Web servers, cache servers and file servers can be implemented as general-purpose computers with the appropriate software or as network appliances, which are computers dedicated to a single function and cannot do anything , Scotts Miracle-Grow, Traveling Together, and several other Fortune 500 pharmaceutical and technology companies. These companies will now benefit from access to industry leading registration tools and enterprise technology for managing meetings spend. Additionally, StarCite provided technology enhancements to a number of its major clients in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. These expanded services included adding registration services in Asia and implementing additional meeting consolidation and management tools with Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. . StarCite's Partner Program continued to foster strong client growth in the third quarter, with StarCite signing a referral and sales agreement with Experient and a distribution agreement with GetThere. StarCite also launched its Partner Certification Program, a first in the industry, and held its first Partner Training with Experient. Supplier marketplace RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. Growth and Enhanced Supplier Relationships Both StarCite and OnVantage demonstrated excellent growth within their respective online supplier marketplaces, as business grew on a combined pro forma basis more than 38% in the third quarter of 2006 compared to the same quarter in 2005. Combined, unique RFPs increased more than 47% in the third quarter. At the close of the third quarter, StarCite and OnVantage were providing a total of $19 million worth of lead opportunities to the hotels in their databases on a daily basis, up 40% from the same period last year. Both companies continued to expand their supplier relationships signing new agreements to provide marketing solutions to the following convention and visitors bureaus: Monterrey, California, Reno-Sparks, Nevada, Tacoma, Washington and Fort Lauderdale, Pensacola and St. Augustine, Florida Parameter not given Error... ''Template needs its first parameter as beg[in], mid[dle], or end. Parameter not given Error... . Increased Global Momentum In the third quarter, StarCite solidified its presence in Europe and highlighted the company's ongoing international expansion with the opening of its European Headquarters in Dusseldorf, Germany. StarCite also signed a new strategic partnership with London-based Gullivers Travel Associates (GTA GTA Grand Theft Auto (legal) GTA Grand Theft Auto (video game) GTA Greater Toronto Area (Canada) GTA Graduate Teaching Assistant ), one of the world's leading independent wholesalers of travel-related products servicing the needs of global and independent tour operators. StarCite's International Division continued to expand its global supplier rosters signing a new agreement with PRA PRA - PRAgmatics. The language used by COPS for specification of code generators. ["Metalanguages of the Compiler Production System COPS", J. Borowiec, in GI Fachgesprach "Compiler-Compiler", ed W. Henhapl, Tech Hochs Darmstadt 1978, pp. 122-159]. Destination Management Companies, Inc., which features 15 branch offices across the U.S., and renewing its marketing agreement with the German Convention Bureau. Other expansions to StarCite's global supplier network include Glamour Tours in Jamaica, the Hilton Imperial Dubrovnik and the Regent Esplanade hotels in Croatia, and the Westin Camino Real in Guatemala. Additionally, LAN Argentina, the Alvear Palace Hotel and the Llao Llao Hotel The Llao Llao is a famous hotel in the northwest Patagonia region of Argentina. This hotel is situated in the foothills of the Andes, near the tourist destination of San Carlos de Bariloche. The hotel is built on a hill between the Moreno Lake and Nahuel Huapi lakes. joined with StarCite's existing partners in Argentina to form a new sales campaign. About StarCite, Inc. StarCite[R], Inc. is the leading provider of On Demand Global Meeting Solutions[TM]. StarCite optimizes global investments in corporate meetings and events, delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite is based in Philadelphia. StarCite's equity holders include Internet Capital Group (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 : ICGE), Maritz Travel Company, Seaport Capital, and TL Ventures. For more information about StarCite or its technologies and services, please visit www.starcite.com. About OnVantage, Inc. OnVantage[TM], Inc., headquartered in Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. is a technology provider for the $300 billion global market for the professional meetings and events industry. OnVantage offers flexible solutions to help corporations save time and money by automating the planning and procurement of large and small meetings with unprecedented cost control and spend visibility. OnVantage also makes it easy for meeting suppliers to grow their groups and meetings business by offering increased visibility with Fortune 1000 meeting planners as well as helping them efficiently manage and track the RFP process. A global corporation, OnVantage has sales and customer service operations in the U.S., UK, Germany and Hong Kong. OnVantage and OnVantage Marketplace for Meetings are trademarks of OnVantage, Inc. All other names, brands, or products may be trademarks or registered trademarks of their respective owners. |
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