Freemarkets verlängert Vertrag - 500 Beiträge pro Seite

[Vossibär]

FreeMarkets, der führende Betreiber von B2B-Marktplätzen gemessen am Umsatz, gibt bekannt, den Vertrag mit FirstEnergy bis ins Jahr 2001 verlängert zu haben.

Innerhalb der Bestimmungen des Vertrages wird FirstEnergy FreeMarkets und FreeMarkets Fuel Hub benutzen, um Güter und Dienstleistungen zu beziehen.

FreeMarkets hatte seit Januar 1999 einen Vertrag mit FirstEnergy, im April 1999 entschied die Führungsebene von FirstEnergy, auch für den Bezug von Treibstoffen das FreeMarkets Fuel Hub zu benutzen. Beide Verträge liefen nun aus und wurden über ein weiteres Jahr verlängert.

© GodmodeTrader.de

[magoo]

BW2043 FEB 08,2001 4:03 PACIFIC 07:03 EASTERN



( BW)(PA-FREEMARKETS/ADEXA)(FMKT) FreeMarkets to Acquire Adexa, Inc.

Business Editors & High Tech Writers

PITTSBURGH--(BUSINESS WIRE)--Feb. 8, 2001--


Combination of leaders in B2B sourcing and collaborative commerce to create the first comprehensive e-commerce solution for direct materials


FreeMarkets, Inc. (Nasdaq:FMKT), the leading B2B Global Marketplace and eSourcing technology provider, today announced that it has signed a definitive agreement to acquire privately held Adexa, Inc., a leading provider of collaborative commerce solutions. The acquisition of Adexa will extend FreeMarkets` eSourcing leadership into supply chain collaboration and optimization. For the first time, global enterprises will be able to manage their direct materials from end to end, using the combined company`s next generation solutions to source and operate their supply chains.
Under the terms of the agreement, FreeMarkets will issue a total of 17.25 million shares and options in exchange for all of the outstanding shares and options of Adexa. This represents an aggregate purchase price of approximately $340 million, based on FreeMarkets` closing price on February 7, 2001. The acquisition of Adexa, a company with over $50 million in revenues in 2000, should be accretive to FreeMarkets` revenues and gross margins in 2001, and accretive to revenues, gross margins, and operating earnings per share (excluding stock-based expenses and goodwill) in 2002.
The transaction, which is structured as a stock-for-stock merger and a purchase for accounting purposes, has been unanimously approved by both companies` boards of directors, and is subject to approval by the stockholders of both companies and to customary closing conditions. Holders of approximately 70 percent of Adexa`s shares have signed agreements to vote in favor of the transaction. At closing, which is expected to occur during the second quarter of 2001, Adexa will become a wholly-owned subsidiary of FreeMarkets.
"We believe that the combination of FreeMarkets and Adexa will provide the first end-to-end e-commerce solution for direct materials," said FreeMarkets` Chairman and CEO Glen Meakem. "The combined company will offer customers the ability to identify, select and collaborate with trading partners in their own private marketplaces, with exchanges, or through the FreeMarkets B2B Global Marketplace. We looked for world-class collaboration technologies to add to our leading eSourcing solutions. We found that Adexa`s iCollaboration suite was unmatched in its ability to enhance overall supply chain performance. This combination will create benefits for our current and future customers."
"The acquisition of Adexa is a compelling strategic move by FreeMarkets and underscores the company`s commitment to enhancing the competitiveness of major global enterprises," said Raymond J. Lane, the former President and COO of Oracle Corporation, who joined FreeMarkets` Board of Directors today. "I am very pleased to be joining FreeMarkets at such an exciting time, and look forward to lending my experience and expertise in the software industry to help FreeMarkets further extend its innovation and leadership in B2B."
"We are very excited to join the FreeMarkets team," said Adexa Founder, President and CEO Cyrus Hadavi, who will become Vice-Chairman of FreeMarkets upon consummation of the transaction. "By joining FreeMarkets, we can provide an industry-leading set of solutions and unique domain knowledge of direct materials in key economic sectors ranging from high technology to automotive."
By acquiring Adexa, FreeMarkets will increase both the breadth and depth of its customer base. Together, FreeMarkets and Adexa will serve more than 160 of the world`s leading corporations.
FreeMarkets` solutions enable global management of direct materials, which represent more than 60 percent of all materials purchased by manufacturers. According to a recent report by Forrester Research, purchasing executives plan to buy almost 50 percent of their direct materials online by 2002. And the same percentage of manufacturers expect to use an online marketplace solution to optimize production schedules with suppliers. Additionally, AMR Research forecasts that the market for traditional supply chain planning management software will reach $9.5 billion by 2002, and Information Week expects the market for collaborative commerce applications to exceed $6 billion in the same period.
A conference call to discuss the acquisition will be held today, Thursday, February 8, 2001 at 11 a.m. Eastern Time. The call will be hosted by Glen Meakem, Cyrus Hadavi, David Becker, FreeMarkets` President and COO, and Joan Hooper, FreeMarkets` Senior Vice President and CFO. The call may be accessed by dialing 1-712-271-3642. The passcode for the call is: 3337219.

About FreeMarkets

FreeMarkets is the leading B2B Global Marketplace and eSourcing technology provider. FreeMarkets combines its industry-leading technology platform with unparalleled sourcing information, commodity-specific domain knowledge, world-class services and purchasing scale to deliver fast, measurable savings to customers. FreeMarkets has created over 9,200 online markets for more than $14 billion worth of goods and services and created estimated savings of over $2.7 billion for its customers. The FreeMarkets B2B Global Marketplace enables buying organizations to source products from more than 165 supply verticals. More than 9,300 suppliers from over 55 countries have participated in the FreeMarkets B2B Global Marketplace. The Company also operates FreeMarkets Asset Exchange, the leading B2B Global Marketplace for surplus assets and inventory. FreeMarkets can be found on the Web at www.freemarkets.com. FreeMarkets is a registered trademark of FreeMarkets, Inc.

About Adexa

Adexa is a leading provider of collaborative commerce solutions critical to e-business. Adexa`s iCollaboration suite helps enterprises and trading exchange participants make faster, more informed business decisions by automating, synchronizing and optimizing complex, interdependent supply chain operations. Built with next-generation technology, Adexa`s iCollaboration suite is an open, scalable and adaptable solution that helps increase customer responsiveness, coordination with trading partners and enhance overall supply chain efficiency. Headquartered in Los Angeles, Adexa has licensed its iCollaboration suite to leading companies and trading exchanges around the world, including Advanced Micro Devices, Inc., Conexant Systems, Inc., Lucent Technologies, Inc., Framatome Connectors International, Fujitsu Quantum Devices, Ltd., Matsushita Electronics Corporation, Philips Semiconductors B.V., Sanyo Electric Co. Ltd., and Sumitomo Metal Industries, Ltd. Sitix Division. To learn more about Adexa and its solutions, please visit www.adexa.com.

Forward-looking statements

Statements in this press release that are not historical facts, including those statements that refer to FreeMarkets` plans, prospects, expectations, financial projections, strategies, intentions, 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, risks that could cause the closing of the transaction to be delayed or not to occur, the integration of Adexa`s business following the closing, the ability to cross-sell solutions to FreeMarkets` and Adexa`s respective customers, market acceptance of FreeMarkets` B2B Global Marketplace and collaborative commerce solutions, and the competitive nature of the market for e-commerce products and services, and other risk factors that are described in more detail in FreeMarkets` filings with the Securities and Exchange Commission.

Where You Can Find Additional Information

FreeMarkets plans to file a Registration Statement on SEC Form S-4 in connection with the transaction, and FreeMarkets expects to mail a Proxy Statement/Prospectus to stockholders of FreeMarkets and Adexa containing information about the transaction. Investors and security holders are urged to read the Registration and Proxy Statement/Prospectus carefully when they are available. The Registration Statement and the Proxy Statement/Prospectus will contain important information about FreeMarkets, Adexa, the transaction and related matters. Investors and security holders will be able to obtain free copies of these documents through the website maintained by the U.S. Securities and Exchange Commission at www.sec.gov. Free copies of the Proxy Statement/Prospectus and these other documents may also be obtained from FreeMarkets by directing a request through the Corporate Info/Investor Relations portion of FreeMarkets` website at www.freemarkets.com or by mail to FreeMarkets, Inc., Investor Relations, FreeMarkets Center, 210 Sixth Avenue, Pittsburgh, PA 15222, telephone [phone].
In addition to the Registration Statement and the Proxy Statement/Prospectus, FreeMarkets files annual, quarterly and special reports, proxy statements and other information with the Securities Exchange Commission. You may read and copy any reports, statements or other information filed by FreeMarkets at the SEC`s Public Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549 or at any of the SEC`s other Public Reference Rooms in New York, New York and Chicago, Illinois. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the Public Reference Rooms. FreeMarkets` filings with the SEC are also available to the public from commercial documents-retrieval services and at the website maintained by the SEC at www.sec.gov.
FreeMarkets and Adexa and their respective directors, executive officers and certain other members of management and employees may be soliciting proxies from FreeMarkets stockholders in favor of the issuance of FreeMarkets stock in the transaction and from Adexa shareholders in favor of the adoption of the definitive agreement. A description of any interests that such directors and executive officers have in the transaction will be available in the Proxy Statement/Prospectus.


--30--slb/clv*

CONTACT: FreeMarkets, Inc.
Karen Kovatch, 412/297-8767
[e-mail]
or
Adexa, Inc.
Dave Smith, 310/642-2192
[e-mail]

KEYWORD: PENNSYLVANIA CALIFORNIA
INDUSTRY KEYWORD: INTERNET E-COMMERCE SOFTWARE MANUFACTURING
MERGERS/ACQ






..und eine alte Meldung.



FreeMarkets Reports Record Fourth Quarter Results
Revenues Grow 340%, Gross Margins Increase to 50%, exceeding expectations; Savings to Customers Top $2.7 Billion to Date

PITTSBURGH, PA – January 22, 2001 – FreeMarkets, Inc. (NASDAQ: FMKT), the leading B2B Global Marketplace, today reported record results for the fourth quarter ended December 31, 2000.

Revenues for the fourth quarter increased to $34.5 million, up 340% over the fourth quarter of 1999 and 30% over the quarter ended September 30, 2000. Market volumes grew to $3.5 billion, an increase of 153% over the fourth quarter of 1999 and 18% sequentially. Gross margins increased to 50%, compared to 39% in the fourth quarter of 1999 and 46% in the quarter ended September 30, 2000. Net loss for the fourth quarter, excluding stock-based expense and non-cash acquisition-related costs, was $10.4 million, or $0.27 per diluted share, beating the First Call estimate by $0.04 per share, and bettering the $0.41 per diluted share loss reported for the fourth quarter of 1999.

Revenues for the year ended December 31, 2000 were $91.3 million, compared to $20.9 million in 1999, an increase of 337%. Market volumes grew to $9.9 billion, an increase of 264% over the $2.7 billion reported in 1999. Gross margins increased to 46% in 2000 from 42% in the prior year.

"Once again, we are very pleased to report strong quarterly and year-end results," said FreeMarkets Senior Vice President and Chief Financial Officer Joan Hooper. "As our fourth quarter numbers demonstrate, FreeMarkets continues to gain strength and our team continues to execute and scale our model. I am particularly proud of our ability to increase gross margins significantly throughout the year 2000, while growing our business 340 percent."

"Demand for eSourcing solutions that deliver large and immediate returns on investment is extremely strong, and FreeMarkets is uniquely positioned to capitalize on this market opportunity," said Glen Meakem, chairman and CEO of FreeMarkets. "Our portfolio of eSourcing solutions provides professional buyers with the technology, information and services they need to make better business decisions. These solutions have delivered tremendous results to buyers around the globe – more than $2.7 billion in savings to date. Our industry-leading eSourcing solutions, direct materials domain expertise, marketplace liquidity and scale position FreeMarkets to be a key leader in the next wave of e-commerce."

Among the highlights of FreeMarkets’ fourth quarter:

Contract Auction Volume and Savings

The amount of commerce conducted through the FreeMarkets® B2B Global Marketplace continued to grow during the fourth quarter, with 2,432 auctions conducted for $3.5 billion worth of goods and services. This represents an increase in market volume of 153% over the fourth quarter of 1999, and 18% over the previous quarter.

Savings to FreeMarkets’ customers also rose, with an estimated $758 million in potential savings identified during the quarter, compared to $297 million in the same period a year earlier and $483 million in the prior quarter. Average savings rates for buyers in the FreeMarkets B2B Global Marketplace spiked from 14% in the second and third quarters of 2000 to 18% in the fourth quarter proving FreeMarkets’ value proposition in a softening economy.

FreeMarkets has conducted over 9,200 online auctions for over $14 billion worth of goods and services in more than 165 different supply verticals and generated over $2.7 billion in potential savings for its customers to date.

Customers

The number of customers using the FreeMarkets B2B Global Marketplace grew to 100 during the fourth quarter, up from 34 in the same period a year earlier.

FreeMarkets continued to expand its global customer base during the quarter, adding customers in key markets in the United States, Europe and Asia. The Company also strengthened its position as the leading B2B Global Marketplace, adding customers across key economic sectors, including the automotive, consumer, energy, financial services and technology industries.

Among the customers FreeMarkets announced new agreements with in the fourth quarter: FMC Corporation, CLP Power Hong Kong Limited, H.J. Heinz Company, Nestlé Thailand, Stadium Authorities of Pittsburgh, MacLean-Fogg Company and Baltimore Gas and Electric.

FreeMarkets also gained further traction with existing customers during the quarter, announcing extensions of its long-term agreements with the Commonwealth of Pennsylvania, Emerson Electric, United Technologies Corporation and Allegheny Technologies.

Already in the first quarter of 2001, FreeMarkets has signed a new agreement with the PNC Financial Services Group and extended its long-term agreements with Owens Corning Corporation, FirstEnergy Corp. and Pilkington plc.

Suppliers

The number of global suppliers participating in the FreeMarkets B2B Global Marketplace grew by 2,300 during the quarter, bringing the total number of suppliers who have actively bid through FreeMarkets to 9,300.

Relationships forged during the third quarter with several trade associations and economic development agencies, including ITAC, Taiwan’s largest trade association, and Millennium Capital, a Central European investment and advisory firm, aided expansion of the FreeMarkets global supplier network, as joint marketing and recruiting efforts yielded new, high-quality global suppliers.

Key Alliance

During the quarter, FreeMarkets signed a letter of intent to form a Japanese joint venture with Mitsubishi Corp., one of the largest general trading companies in Japan. The joint venture, which will be majority-owned by FreeMarkets and operate from its office in Tokyo, will deliver the FreeMarkets B2B Global Marketplace to the Japanese market. Mitsubishi will invest significant capital in the joint venture and receive a significant equity stake.

FreeMarkets and Mitsubishi also signed a joint sales and marketing agreement, through which they will team to deliver the FreeMarkets B2B Global Marketplace to customers throughout Japan. Under the terms of the agreement, Mitsubishi will promote FreeMarkets’ B2B Global Marketplace and eSourcing solutions to Mitsubishi group companies and customers, along with Mitsubishi’s value-added services.

Technology

FreeMarkets continued to develop and expand its portfolio of eSourcing technologies during the quarter. On February 15, the Company will officially launch its new QuickSource™ software product at its inaugural eMarkets 2001 conference in Scottsdale, Arizona (www.freemarkets.com/eMarkets2001). Based on the industry-leading eSourcing technologies developed by FreeMarkets and used to power its B2B Global Marketplace, FreeMarkets’ QuickSource solution is a complete set of applications that enables procurement professionals to create and manage eMarkets for direct and indirect materials, as well as services. The QuickSource solution expands FreeMarkets’ portfolio of eSourcing offerings, which also includes the FullSource™ and DirectSource™ solutions.

About FreeMarkets

FreeMarkets is the leading B2B Global Marketplace. FreeMarkets combines its industry-leading technology platform with unparalleled sourcing information, commodity-specific domain knowledge, world-class services and purchasing scale to deliver fast, measurable savings to customers. FreeMarkets has executed over 9,200 online auctions for more than $14 billion worth of goods and services and created estimated savings of over $2.7 billion for its customers. The FreeMarkets B2B Global Marketplace enables buying organizations to source products from more than 165 supply verticals. More than 9,300 suppliers from over 55 countries have participated in the FreeMarkets B2B Global Marketplace. The Company also operates FreeMarkets Asset Exchange, the leading B2B Global Marketplace for surplus assets and inventory. 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, 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 Global Marketplace and new products and services that FreeMarkets introduces, the competitive nature of the market for business-to-business online auction and e-commerce services, FreeMarkets` ability to attract new customers, through its own efforts and through partnerships and alliances, 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 and manage growth. You should carefully review these and other risk factors that are described in more detail in FreeMarkets` filings with the Securities and Exchange Commission.

# # #




FreeMarkets, Inc.

($ in thousands, except per share amounts)













Three Months Ended

December 31,

Year Ended

December 31,







2000

1999

2000

1999











Revenues

$ 34,509

$ 7,843

$ 91,276

$ 20,880











Cost of revenues

17,316

4,799

48,896

12,166











Gross profit

17,193

3,044

42,380

8,714











Operating costs:









Research & development

6,121

1,953

19,121

4,913

Sales & marketing

12,251

6,314

41,504

11,939

General & administrative

11,112

3,426

34,081

9,316

Stock-based expense

4,659

472

14,349

5,200

Non-cash acquisition-related costs

29,523

-

98,146

-











Total operating costs

63,666

12,165

207,201

31,368











Operating loss

(46,473)

(9,121)

(164,821)

(22,654)











Other income, net

1,853

779

8,409

833











Net loss

$ (44,620)

$ (8,342)

$ (156,412)

$ (21,821)





















Basic & diluted EPS

$ (1.17)

$ (0.43)

$ (4.21)

$ (1.46)

Weighted average shares

38,168,712

19,238,530

37,189,453

14,914,189





















Net loss excluding stock-based expense &









non-cash acquisition-related costs

$ (10,438)

$ (7,870)

$ (43,917)

$ (16,621)

Per basic & diluted share

$ (0.27)

$ (0.41)

$ (1.18)

$ (1.11)









































Operational data:









Auction volume

$ 3,450,906

$ 1,361,883

$ 9,928,152

$ 2,724,686

Revenue as a percentage of volume

1.00%

0.58%

0.92%

0.77%

Number of auctions

2,432

877

6,406

1,833

Estimated potential savings

$ 758,000

$ 297,000

$ 1,906,000

$ 529,000

Number of customers

100

34

100

34

Cumulative number of suppliers

9,300

3,000

9,300

3,000

Cumulative number of product categories

165

70

165

70

Number of employees

968

376

968

376















FreeMarkets, Inc.

($ in thousands)









December 31,

December 31,

Assets

2000

1999

Current assets:





Cash, cash equivalents and





short-term investments

$ 121,148

$ 210,244

Accounts receivable, net

27,861

6,887

Other current assets

5,069

1,441







Total current assets

154,078

218,572







Property & equipment, net

43,714

12,115

Goodwill & other assets, net

264,754

967







Total assets

$ 462,546

$ 231,654













Liabilities & Stockholders` Equity





Current liabilities:





Accounts payable

$ 9,517

$ 4,764

Accrued incentive compensation

10,235

899

Accrued acquisition costs

4,676

-

Other current liabilities

16,889

2,559

Current portion of long-term debt

3,887

1,500







Total current liabilities

45,204

9,722







Long-term debt

544

3,278







Total liabilities

45,748

13,000







Total stockholders` equity

416,798

218,654







Total liabilities & stockholders` equity

$ 462,546

$ 231,654