Media powerhouse to use Bid.Com's dynamic pricing solutions LONDON, UK, Sept. 19 /PRNewswire/ - Bid.Com International Inc. (NASDAQ: BIDS, TSE: BII), a global application provider of e-commerce solutions, today announced it has entered into a three year agreement with News International, the flagship media business unit of News Corp Inc., and publishers of a number of leading newspapers including The Times, The Sunday Times, The Sun, and News of the World. Through its combined media outlets, News International has a readership of more than 18 million individuals, the largest in the U.K. Bid.Com will provide e-commerce solutions and services to enable News International's on-line ventures, including The-times.co.uk, Firedup.com, The- sun.co.uk, to sell reader offers and branded products through the Internet using a blend of fixed price and dynamic pricing formats. As part of the agreement, Bid.Com will receive monthly hosting fees and a percentage share of transaction revenues. "Through a request for proposal process, News International examined a number of vendors and selected Bid.Com based on a number of key factors," said Brett Miller, General Manager of News International's Commerce Ventures. "We were impressed by its speed of implementation, scalability of its technology and the flexibility of its solution." The first phase of implementation, which will involve upgrading and broadening News International's existing e-commerce capabilities, is expected to be completed by November 2000. "Bid.Com continues to emerge as a partner of choice for global organizations that want to take advantage of the Internet as a sales channel," said Jeff Lymburner, President and CEO, Bid.Com International Inc. "Our offerings provide added benefits because they can be quickly and easily customized to meet our customers' requirements." 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 on-line 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 organizations have made Bid.Com their on-line sales partner in sectors such as automotive, heavy machinery, capital markets, electronic media, wireless communications, arts and culture, and retail. Partners include GE Capital, Research In Motion, Rogers New Media, CapGemini, ValueVision International Inc., PricewaterhouseCoopers and The Art Vault. Bid.Com has offices in Toronto (Ontario), Tampa (Florida), Sacramento (California), Dublin (Ireland), and Melbourne (Australia). 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 cash requirements. Forward-looking statements are subject to risks and uncertainties that may cause Bid.Com's ("the Company") results to differ materially from expectations. These risks include the Company's ability to further develop its business-to-business sales and operations, 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 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 on Bid.Com International Inc. please visit www.bid.com SOURCE Bid.Com International Inc. -0- 09/19/2000 /CONTACT: Contacts: At Bid.Com: Joe Racanelli, Director of Marketing, Tel: (905) 672-7467 ext. 273, Cel: (416) 587-9436, Fax: (905) 672-9928, E-mail: firstname.lastname@example.org; At Porter Novelli Convergence Group: Helen Stokoe, Tel: +44 (20) 7853 2326, E-mail: Helen.Stokoe@pnicge.com/ (BII. BIDS) CO: Bid.Com International Inc. ST: IN: MLM SU: -30- -0- Sep/19/2000 12:31 GMT EOS (PRN) Sep/19/2000 08:31 85 â -0- (PRN) Sep/19/2000 12:46 GMT
Bid.Com Signs Three Year Agreement with News International
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