Hong Kong, March 23, 2000
E-Business Professional Services Bolstered in Japan and USA
— Web Connection, a wholly-owned subsidiary of chinadotcom corporation [NASDAQ: CHINA], the leading pan-Asian integrated Internet company, has acquired a majority interest in TKAI, Inc., a professional services firm that focuses on Japan's thriving e-business market. It is the latest strategic enhancement to the 'build' component of Web Connection's investment-driven 'Build, Distribute, Sell' Internet business model.
"This venture marks the next step in the group's plan to expand its commitment to Japan's e-commerce market - the largest in Asia, in both value and numbers of users. With more than 18 million consumers online, Japan has the world's largest Internet population outside of the U.S., and accounts for more than 70% of all e-commerce in Asia," said Web Connection Japan's Managing Director, Simon Laight. "Working with TKAI will provide significant added-value to our growing number of regional clients looking to enter Japan," added Laight.
"This partnership is truly exciting as it brings together Asia's leading e-business integrator with one of the world's most experienced and respected authorities on the Japan Internet market," added Steve McKay, President and COO of the Web Connection. "We really look forward to working with TKAI to establish the Web Connection as the clear partner of choice for multinational corporations and dot-coms looking to access Japan's enormous online market potential."
"We are very pleased with this new partnership, which will provide our clients with powerful new means to reach both deeper into Japan and beyond to other markets of Asia," said Tim Clark, President of TKAI.
TKAI is a U.S.-based startup that has offered strategic marketing services focused on Japan's Internet sector since 1995. Clients have included online and offline heavyweights such as Amazon.com, Intel Japan, Nokia, Outpost.com, PeopleSoft and United Media. TKAI has published three syndicated research reports on Japan's Internet market, the latest dealing with the exploding Internet-enabled cellular telephone sector. The company recently penned a one-year contract to develop an integrated suite of Japan-specific service offerings on behalf of Promotions.com of the U.S.
Under the new partnership, TKAI's Tokyo staff will relocate to Web Connection's offices, while both chinadotcom and Web Connection personnel will work with TKAI's U.S. office to strengthen its business development and account management capabilities, according to Clark.
This announcement follows recent chinadotcom corporation key partnerships with two Japanese Internet heavyweights - Trans Cosmos and Softbank Investment Strategic. These new joint ventures will invest in and provide consulting services to businesses entering and/or expanding in Asian online markets. The combined value of these two joint ventures exceeds USD 150 million.
About Web Connection
Established in 1995, the Web Connection, a chinadotcom corporation subsidiary, offers strategic Internet solutions for major corporations and dot-com startups that recognise the power of the Internet as a business platform and customer relationship management channel. The Web Connection brings together a rare blend of core competencies - digital strategy, technology integration, creative design and online marketing - which represents the core ingredients of a winning e-business solution.
Major clients include HSBC, Mandarin Oriental Hotel Group, IBM, General Motors, Deutsche Asset Management Japan, Shikosha and New Balance Japan. Major solutions partners include Vignette, Net Perceptions, Oracle and Microsoft. The Web Connection has over 500 staff across Asia with offices in Hong Kong, China, Singapore, Japan, Taiwan and Korea. The Japan operation is headed up by Simon Laight and currently has 36 staff. Visit www.twc-asia.com for more information on the Web Connection.
About chinadotcom corporation
chinadotcom corporation [NASDAQ: CHINA] is the leading pan-Asian Internet company built on an integrated operating and investment business model. The company provides a full range of Internet services that; 1) builds e-business strategies and solutions (Web Connection), 2) distributes content via its portal network (china.com, cww.com, hongkong.com, and taiwan.com), and 3) sells services through online advertising (24/7 Media Asia).
chinadotcom corporation also invests in synergistic Internet companies throughout the Asia-Pacific region that add value and depth to its services and portal channels. chinadotcom corporation's investment strategy is largely based on three types of investments. The first, incubation - through chinadotcom corporation's Jump Start program - supports seeding of new companies and incubates Internet start-ups. The second, acceleration, builds on existing businesses and accelerates the growth of existing on-line services, while the third category of investments, partnership, enables chinadotcom corporation to join with established Internet companies to accelerate and expand their entry into the Asian market. To date, through our investment program, chinadotcom corporation has invested in over 30 Internet companies around the world.
chinadotcom corporation is committed to enabling digital communities to realise their full potential, thereby facilitating the development of the Internet in China and across Asia. The company has over 1000 employees in 24 offices across 10 Asian markets, including Australia, Hong Kong, Japan, Korea, Malaysia, Singapore and Taiwan. In Mainland China, the company has nine offices and over 300 employees. 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. For more information about chinadotcom corporation, please visit www.corp.china.com.
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