Hong Kong, December 14, 1999
Creates e-Direct Corporation Joint Venture with Accton Technology Corporation
— chinadotcom corporation [NASDAQ: China], which operates www.taiwan.com, the Web Connection and 24/7 Media Asia in Taiwan, announced the creation of e-Direct Corporation, a joint venture with Taiwan-based Accton Technology Corporation. e-Direct, which will be majority-owned by chinadotcom corporation and based in Taipei, will provide e-news, e-commerce and database direct marketing services to Internet users.
chinadotcom corporation will be the majority shareholder with a 60% stake and Accton Technology will hold 40% of the original shares of e-Direct Corporation.
e-Direct represents a further reinforcement of our 'Build, Distribute, Sell'* business model. We will build through Web Connection by creating e-commerce solutions for small to medium enterprises (SMEs) of different industries, as we have done with existing products such as InterMerchant and PlanetIntra; distribute through co-branding with our portal network which includes taiwan.com; and sell through 24/7 Media Asia to provide advertising and sponsorship services, said chinadotcom corporation Chief Operating Officer Peter Hamilton.
Mr. Hamilton continued, "The partnership with Accton Technology presents opportunities to provide world-class e-commerce and related services to Internet users throughout Taiwan. e-Direct will be integrated with our own interactive news services and Internet forums, such as Post4U http://post4u.hongkong.com, and bargain hunting and shopping features such as Shop4U http://shop4u.hongkong.com.
Accton's e-news service has 78 e-news titles, with 3 new e-news titles being added each month. "This partnership will help us to expand the content on our portal network, china.com, cww.com, hongkong.com, and of course, taiwan.com, through the integration of e-Direct content into other chinadotcom portals, added Mr. Hamilton.
Speaking on behalf of Accton Technology, Chief Executive Officer Mr. A. J. Huang said, "Our partnership with chinadotcom corporation will be a terrific complement to our services. Their established pan-Asian network that spans 10 Asia-Pacific markets (including Japan, Korea, Singapore, Malaysia, Hong Kong and Australia), their unique 'Build, Distribute, Sell' business model, and most of all, their experience in working with world class partners such as America Online and 24/7 Media Asia to market e-business services are all reasons why we are extremely pleased to be launching e-Direct with chinadotcom corporation."
The vision for e-Direct is to combine the capital, technology, and human resources of chinadotcom corporation and Accton Technology to develop and deliver the following services:
Content, including integrated media audio and video services;
Web hosting services;
Community services such as search, and I-chat;
Subscription e-mail and e-newspaper services;
e-commerce by enabling business-to-business, business-to-consumer, or consumer-to-consumer transactions; and
Direct marketing and database targeting services.
Mr. Hamilton added, "Last week we introduced our new corporate identity, which is based on a theme that says "youdotcan. It was created to recognize the accomplishments of the past, and to signify our own potential and the unlimited potential of the Internet in Asia. The establishment of e-Direct is a clear demonstration of how chinadotcom corporation is bringing this theme to life."
In Taiwan, chinadotcom corporation has 114 employees and operates all segments of its business, including the Web Connection , 24/7 Media Asia, and its portal network.
About chinadotcom corporation
chinadotcom corporation is the first pan-Asian integrated Internet company listed in the United States (NASDAQ: CHINA). The company provides a full range of Internet services that; 1) build e-commerce strategy and solutions (the Web Connection), 2) distribute content via its portal network (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sell services through online advertising (24/7 Media Asia). chinadotcom corporation is committed to enabling digital communities to realize their full potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 800 employees in 21 offices across 10 Asian markets, including Japan, Korea, Singapore, Malaysia, Hong Kong and Australia. Major corporate shareholders include America Online Inc., Mitsui & Co. Ltd., Nortel Network Corporation, Sun Microsystems Inc., New World Infrastructure Limited and 24/7 Media Inc.
About Accton Technology Corporation
Accton Technology Corporation, established in 1988 in Taiwan, is a leading global manufacturer of Ethernet networking hardware. With sales of more than US$200 million for 1998, Accton has been aggressively developing its Internet-related business and has already established one of the fastest-growing community bases with over half a million users. Its product offerings include e-commerce tools, e-news, as well as direct marketing and database targeting services specific to vertical industries. The company has received the recognition of ISO9001- and ISO1400-quality systems model for quality assurance in design and development, production, installation and service.
Accton has its international headquarters in Taiwan Science-based Industrial Park, Hsinchu and also has 15 sales offices in Australia, Germany, India, Japan, Korea, Middle East, PRC, UK, USA, France, Spain, South Africa, Nordic-Baltic and Singapore. The company has more than 1,200 employees worldwide.
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