Bid.Com And Sunday Business Post To Form Strategic Alliance To Boost B2B Transactions In Europe
Prominent E-commerce Enabler To Align With Leading Irish Business Paper
(Nasdaq: BIDS; TSE: BII)
TORONTO, March 2 /CNW-PRN/ - Bid.Com International Inc. (Nasdaq: BIDS; TSE: BII), a leading international on-line Dynamic Pricing Solutions Provider, and Sunday Business Post, Ireland's leading financial, economic and political newspaper, today announced plans to enter into a strategic alliance in response to the growing demand for vertical online marketplaces in Europe.
Bid.Com International Limited, a subsidiary of Bid.Com International Inc., and the Sunday Business Post have confirmed plans to develop and implement an e-commerce strategy for the Sunday Business Post's entrance into specific business-to-business ("B2B") and business-to-consumer ("B2C") markets utilizing Bid.Com's suite of Dynamic Pricing Solutions, including fixed price and auction methods, and services. The companies will focus on specific industries with a need to clear surplus inventories, liquidate perishable commodities and products, and more traditional "click and mortar" entities that need to shift quickly from one kind of pricing method to another to respond to changing market and customer demands.
"The primary aim of this venture is to harness the immense trading opportunities available in Europe's expanding B2B market," said Barbara Nugent, CEO of the Sunday Business Post. "This announcement marks yet another step in the extension of the Sunday Business Post's on-line activities."
"An important part of our business strategy, on a worldwide basis, is to form strategic alliances and partnerships with recognized leaders in their domain such as Sunday Business Post," commented Mr. Jeff Lymburner, President and CEO of Bid.Com International Inc. "This is another example of the increasing global acceptance of our dynamic pricing platform and the continual growth of "powered by Bid.Com" solutions in the business-to-business sector.
About Sunday Business Post
The Sunday Business Post is the premier Irish weekly business newspaper. It has an audited circulation of over 50,000 with demonstrable 140,000 ABC1 readers. It also publishes Computers in Business, which has the largest audited circulation of any technology publication in the Irish marketplace.
The Sunday Business Post desires to develop Internet auction platforms oriented to the Irish business community, for each of the B2B and B2C markets. It proposes to brand each auction segment individually and is currently working on developing publications that will be used for that purpose.
About Bid.Com International Inc.
Founded in 1995, Bid.Com offers a comprehensive suite of on-line Dynamic Pricing Solutions for business-to-business and business-to-consumer markets. Bid.Com offers multiple online transaction methods, providing fixed price, traditional auction, real-time declining price (Dutch) auction and reverse auctions (Request for Quotation/Proposal (RFQ/RFP)) all within the same package. Thanks to award-winning modular architecture, the Bid.Com system can be integrated with virtually any business-to-business or consumer-based application. A growing number of major online players have made Bid.Com their online sales partner in sectors such as electronic media, travel, wireless communications, automotive, heavy machinery, arts and culture, and retail. Partners include Research In Motion, Sprint Canada, America Online, Chapters.ca, Rogers New Media, CapGemini, The Art Vault and NBCi through ValueVision Interactive.
Bid.Com has offices in Toronto, Tampa, Dublin, and Melbourne, Australia, and the company's shares trade on both the Nasdaq National Market and the Toronto Stock Exchange (Nasdaq: BIDS; TSE: BII).
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the Company's results to differ materially from expectations. These risks include the Company's ability to further develop its business-to-business and licensing businesses, the Company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the Company's products and services, competitive factors, new products and technological changes, and other such risks as the Company may identify and discuss from time to time, including those risks disclosed in the Company's amended Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the Company's plans will be achieved.
To receive additional information about Bid.Com International Inc. please visit www.bid.com.
SOURCE: Bid.Com International Inc.
CONTACT: Greg Bewsh, Vice President, Investor Relations Tel: 905-672-7467 ext. 322, Fax: 905-672-9928, Email: firstname.lastname@example.org