Press Release - Melbourne, Florida, USA - March 14, 2000
USBid Builds Content, Community and Commerce in Electronic Components Sector By Acquiring Worldbase.com and Forging Alliance With NowComponents.com
Expansion Activities in USBid's Strategy to Become Market Leader by Providing Users a Full Spectrum of E-Commerce Services
USBid, a company specializing in innovative
e-commerce solutions, is continuing its mission to become the leading
business-to-business site for the electronics industry through strategic
expansion activities. Yesterday, the company completed its acquisition
of Worldbase.com (formerly eurobase.net), a global marketplace for electronic
components. In addition, USBid has formed an exclusive alliance with NowComponents.com,
the world's leading source of new, excess and surplus passive electronic
components. The alliance includes integrating NowComponents.com's fixed-price
model with USBid's auction technology.
"The Worldbase acquisition and NowComponents.com alliance are carefully
thought-out elements of our strategy to build USBid into the premier provider
of content, community and commerce in the electronic components sector,"
said Gary Heyes, president of USBid. "In addition, because both of these
companies have a strong European presence, the combination of Worldbase.com
and NowComponents.com significantly increases USBid's penetration into
the European market."
USBid's Acquisition of Worldbase.com
USBid acquired all of Worldbase.com's outstanding shares on Feb. 29
in a stock swap. No other terms of the agreement were disclosed. Worldbase.com,
an online business-to-business service for buyers of electronic components,
built a strong community of users from more than 50 countries, primarily
Europe, Asia, Africa and North America.
"The combination of USBid and Worldbase.com will significantly increase
the reach of both companies in the electronic components market," said
Alex Techoueyres, Worldbase.com president and CEO. "Worldbase.com has
built an extensive community of buyers for electronic components, which
will more than double USBid site traffic and generate improved revenue
for USBid."
USBid's Strategic Alliance With NowComponents.com
USBid has agreed to license NowComponents.com's fixed-price e-commerce
engine. By integrating fixed pricing with its industry-leading auction
technology, USBid will now offer users a full spectrum of e-commerce exchange
options. USBid will also provide logistic and supply chain services for
NowComponents.com customers in the United States. NowComponents.com, which
is based in Kettering, England, has 50 percent of its customer base in
the United States and 50 percent in Europe.
"We can greatly assist NowComponents.com with U.S. logistics by handling
the company's shipping and receiving in this country," Heyes said. Another
part of the agreement allows USBid and NowComponents.com to co-list their
combined products to better serve both customer markets. NowComponents.com
generates site revenues by selling primarily passive components, which
will round out USBid's product offerings.
"USBid's expansion activities bring together the combined communities
of USBid, Worldbase.com and NowComponents.com into one area to develop
a more efficient, dynamic e-commerce model for customers," Heyes said.
"These aggregate communities will now be able to select from 4 million
line items, resulting in better pricing, greater product availability
and increased demand from more than 500 sellers."
About USBid
USBid  usbid.com introduced the first e-commerce market model for the electronics industry. USBid was selected as Forbes' Best of the Web in 2000. A premier provider of content, community, and commerce in the electronic components space, USBid combines vast inventory with personalized customer support to provide unmatched reliability in fulfilling the needs of both buyers and sellers. USBid enables a worldwide, Web-based community of electronics buyers and sellers to reduce procurement cycles, lower overhead, and maximize profits through fixed-price, exchange, RFQ, and auction models.
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