Hong Kong, April 5, 2000
WayX to Bolster the Company's China Presence and Integrated E-Business Capabilities
— chinadotcom corporation [NASDAQ: CHINA; website: www.corp.china.com], the leading pan-Asian integrated Internet company, has today announced its acquisition of WayX (www.wayx.com.cn), a leading mainland web solutions company based in Beijing. The move came as the company's latest strategic enhancement to chinadotcom's 'Build, Distribute, Sell' Internet business model in China, with the 'Build' component being carried out by the Web Connection.
chinadotcom is a leader in facilitating the development of the Internet industry in China. For example, the company develops and provides Internet solutions and software through Beijing Digital Ark, a joint venture in China with local academic Dr. Jay Tian. The acquisition of WayX further strengthens chinadotcom's e-business solution and strategy service capabilities in helping businesses get online in China, and is a demonstration of chinadotcom's continued leading position in driving the growth of the Internet industry in the region.
WayX, established in April 1997, is a pioneer of the integrated website development, hosting and domain registration market in China. It has a strong corporate focus with over 100 web solution and online marketing service clients, as well as over 1,000 hosted websites. Major clients include Sun Microsystems, Ford Motor, Hewlett Packard, Legend Computer and the World Bank.
Peter Yip, CEO of chinadotcom corporation, said, "The two companies are a great match. WayX will help us to provide greater value to clients needing Mainland-focused, Chinese-language web solutions, while chinadotcom will become fully-equipped to handle the largest of enterprises, whether an overseas multinational looking to address its China audience, or a Chinese company seeking to create a global Internet presence. "
"Our union with WayX is a significant addition to the Web Connection's Asian operations, capabilities and talents," said Steve McKay, President and COO of the Web Connection. "It further reinforces our goal to create a strong regional presence to support our multinational clients and dot-com start-ups. WayX will both complement and supplement what the Web Connection delivers to clients as Asia's leading e-business integrator. The Web Connection is excited to have WayX join our tightly integrated team."
As a veteran of Beijing's Internet scene, WayX has an impressive track record in delivering innovative creative and technical solutions for Chinese-language websites. Its services include Chinamirror (www.chinamirror.com) which is dedicated to the localisation of non-Chinese sites for overseas businesses entering the China market. WayX is also committed to training the next generation of web pioneers in China through its unique online webmaster training course. In addition, WayX is fully authorised to set up, administer and host Chinese domain names (sites ending in ".cn") by the PRC government.
"As we see it, the Web Connection provides us with the ability to leverage our success across the entire region," said Marcus Xiang, COO of WayX in Beijing. "We anticipate there will be great synergy through the co-operation of our technical teams which will lead to the progressive introduction of leading-edge Internet technologies for the benefit of the online communities in Greater China. Our creative teams will also be able to help each other develop a higher level of customisation for clients at the local level."
About Web Connection
Established in Hong Kong in 1995, the Web Connection, a chinadotcom corporation [NASDAQ: CHINA] subsidiary, offers Internet strategies and 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, Cathay Pacific, Mandarin Oriental Hotel Group, KLM, IBM, General Motors, Samsung and Cisco Systems. The Web Connection has over 700 staff across Asia with offices in Hong Kong, China, Singapore, Japan, Taiwan, Korea and USA. Visit the Web Connection at www.twc-asia.com.
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) build e-business strategies and solutions (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 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 realize 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, New World Infrastructure Limited and 24/7 Media Inc. For more information about chinadotcom corporation, please visit www.corp.china.com.
Founded by three Internet entrepreneurs, Jack Wang (CEO), Marcus Xiang (COO) and Johnny Yu (CTO), in 1997, WayX NetSolutions has successfully established its name in China for integrated web services.
Based in Beijing, WayX provides three core services - web solutions, webmaster training and small business hosting. Its web solutions service offers web strategy consulting, site implementation and online marketing services to multinational and domestic companies as well as Internet business portal sites. Recognised as web experts in China, WayX supports clients such as Sun Microsystems, Hewlett Packard, Ford Motor, Legend Computer and World Bank.
WayX is also engaged in training the next generation of web pioneers in China through its online and offline webmaster training courses. Supplemented by a weekly column in China Computer World co-written by WayX's CEO, Jack Wang, this course not only serves to help support the Internet industry in China but has also been chosen by CNNIC as the official webmaster training course for China.
WayX also has over 1500 virtual sites and 4000 domain registrations and is listed as one of the top five domain service companies in China by CNNIC. WayX has partnered with local web companies nationwide to distribute its unique hosting service called NextG, which enables serve-yourself automatic signup of accounts online around the clock and free testing for 30 days.
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