Companies to Offer the FreeMarkets(R) B2B eMarketplace and eZoneXchange.com's
eFulfillment and Integration Solutions to Global 1000 Companies
PITTSBURGH and RESEARCH TRIANGLE PARK, N.C., May 23 /PRNewswire/ --
FreeMarkets, Inc. (Nasdaq: FMKT), the original and world's leading B2B
eMarketplace, and Sapiens International Corporation (Nasdaq: SPNS) and its
subsidiary eZoneXchange.com, providers of eFulfillment and integration
solutions to B2B eMarketplaces, today announced the formation of a strategic
relationship. Through the relationship, the companies will jointly provide
Global 1000 organizations with access to the FreeMarkets B2B eMarketplace and
eZoneXchange.com's eFulfillment and integration solutions.
As the quantity and variety of transactions conducted through B2B
eMarketplaces grows, organizations are seeking solutions that can help them
integrate their existing software systems and purchasing data with these
eMarketplaces. The FreeMarkets/Sapiens-eZoneXchange.com relationship is
designed to facilitate this integration.
Under the terms of the agreement, FreeMarkets will provide
eZoneXchange.com customers with access to the FreeMarkets B2B eMarketplace,
which has driven over $5.4 billion in commerce and resulted in estimated
savings to customers of over $1 billion. eZoneXchange.com's eFulfillment
solutions, which integrate customers' existing purchasing data, will be
offered to FreeMarkets customers who want to tie their existing data into the
Company's B2B eMarketplace. In addition, FreeMarkets and eZoneXchange.com
will jointly market and sell their solutions to Global 1000 organizations.
"Offering our Global 1000 customers access to the FreeMarkets B2B
eMarketplace enhances our e-business offerings significantly, while providing
our customers the ability to realize significant savings on the purchase of a
wide range of goods and services," said Yuda Doron, CEO of eZoneXchange.com.
"By partnering with Sapiens' eZoneXchange.com, we are enhancing our
ability to help our customers make better purchasing decisions," said Scott
Grimes, vice president of strategy and business development for FreeMarkets.
"In addition to our industry-leading auction technology and market making
services, we can now offer custom eFulfillment and integration solutions to
our customers who wish to tie their existing purchasing data into our B2B
eMarketplace. These tools will allow buyers to analyze their spend and
spending patterns and make even more informed decisions about the goods and
services they buy."
About eZoneXchange.com/Sapiens International Corporation
eZoneXchange.com is a subsidiary of Sapiens International Corporation N.V.
eZoneXchange.com is an eNet Market technology company, which focuses on
eFulfillment for B2B eMarketplaces. The company specializes in two areas:
"hard eFulfillment," by providing the technological infrastructure and
services to solve inefficiencies in the transportation and logistics
processes, as well as "soft eFulfillment," which enables financial
institutions to support their communities/markets.
Sapiens International (Nasdaq: SPNS) is a global e-business solutions
provider. Sapiens delivers strategic end-to-end solutions that enable
customers to capitalize on their IT assets in the transition to e-business.
Sapiens' vertical market frameworks, such as eMerge Loan and eMerge Insure, as
well as its cross-industry offerings, such as eMerge and EuroMigration, apply
new business models and processes in the emerging, dynamic world of e-business
and help clients meet the challenges of euro migration and reengineering.
Applying proven technologies, Sapiens ensures fast time-to-market and
responsiveness to change.
You are invited to visit them on the World Wide Web at
http://www.sapiens.com.
Except for historical information contained herein, the matters set forth
in this release are forward-looking statements that are dependent on certain
risks and uncertainties, including such factors, among others, as market
acceptance, market demand, pricing, changing regulatory environment, changing
economic conditions, risks in new product and service development, the effect
of the company's accounting policies and other risk factors detailed in the
Company's SEC filings.
About FreeMarkets
FreeMarkets is the original and world's leading B2B eMarketplace, with
online markets for industrial parts, raw materials, commodities and services.
The Company has executed online auctions for over $5.4 billion of purchase
orders to date, and created potential estimated savings of more than
$1 billion for its customers. Since 1995, FreeMarkets has created online
auctions for products in more than 100 supply verticals, including injection
molded plastic parts, commercial machinings, metal fabrications, chemicals,
printed circuit boards, corrugated packaging and coal. More than 4,000
suppliers from over 50 countries have participated in the FreeMarkets B2B
eMarketplace. FreeMarkets is the only B2B eMarketplace that includes
industry-leading online auction technology, technical operations, industrial
market making services, access to a global database of suppliers and supplier
research, call center support to buyers and suppliers in over 30 languages,
and marketplace rules. The Company's current customers include Visteon
Corporation, United Technologies Corporation, The Quaker Oats Company, Owens
Corning, Eaton Corporation, Emerson Electric Company, FirstEnergy Corp.,
SmithKline Beecham plc, Navistar International and Delphi Automotive Systems
Corporation. FreeMarkets can be found on the Web at http://www.freemarkets.com.
FreeMarkets is a registered trademark of FreeMarkets, Inc.
Forward-looking Statements
Statements in this press release that are not historical facts, including
those statements that refer to FreeMarkets' plans, prospects, expectations,
strategies, intentions, hopes and beliefs, are forward-looking statements.
These forward-looking statements are based on information available to
FreeMarkets today, and FreeMarkets assumes no obligation to update these
statements as circumstances change. There are risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements, including, without limitation, market acceptance of FreeMarkets'
B2B eMarketplace, the competitive nature of the market for business-to-
business online auction services, FreeMarkets' ability to retain and increase
revenue from existing customers and to attract new customers, FreeMarkets'
ability to attract and retain qualified personnel, the size of the market for
used equipment and surplus inventory, the demand for online auction and other
asset recovery services by buyers and suppliers, and FreeMarkets' ability to
integrate acquisitions. Risk factors are described in more detail in
FreeMarkets' filings with the Securities and Exchange Commission.
For more information contact Karen Kovatch, Sr. Manager, Corporate
Communications, of FreeMarkets, 412-297-8767, or kkovatch@freemarkets.com, or
Lauri Hanover, Chief Financial Officer of Sapiens International, 877-554-2426,
or 972-8-938-2701, or lauri.h@sapiens.com, or John W. Heilshorn, Jr., or Jody
Burfening, 212-838-3777, both of Lippert/Heilshorn & Associates Inc., or
jody@lhai.com.
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Karen Kovatch, Sr. Manager, Corporate
Communications, of FreeMarkets, 412-297-8767, or
kkovatch@freemarkets.com, or Lauri Hanover, Chief Financial
Officer of Sapiens International, 877-554-2426, or
972-8-938-2701, or lauri.h@sapiens.com, or John W. Heilshorn,
Jr., or Jody Burfening, 212-838-3777, both of Lippert/Heilshorn &
Associates Inc., or jody@lhai.com
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