Asia's Leading E-Business Integrator Makes Majority Investment in the US and Strengthens Asia-Pacific Presence
Hong Kong, April 13, 2000
Web Connection, Asia's leading e-business integrator, today marked its five-year anniversary by announcing the acquisition of a majority stake in US-based Dae, an award-winning interactive agency that specialises in reaching Asian Americans and international markets. As Asia's leading e-business integrator and the "Build" arm of chinadotcom corporation's "Build, Distribute, Sell, Invest" business model, the Web Connection provides strategic Internet solutions for major corporations and dot-com start-ups worldwide seeking to take advantage of the exploding Asian Internet market.
With Dae, the Web Connection reinforces its existing US presence. Last month, the Web Connection acquired TKAI, a professional services firm with offices in Portland, Oregon and Tokyo focused on helping US companies succeed in Japan's thriving e-business market.
The majority investments in TKAI and Dae establish the Web Connection as the partner-of-choice for US-based multinationals and dot-com start-ups seeking to build their presence in Asia. This follows recent announcements of Web Connection acquisitions of interests in Greater China of PRC web solutions company, WayX, and business-to-business software and professional services firm, E2E Business Solutions (formerly Chelcon Technology Group).
"With the Asian Internet industry growing so rapidly, the interest of companies around the world wanting to tap into the Internet business opportunities in this region has increased tremendously," said Steve McKay, President and Chief Operating Officer of Web Connection. "Our expanded operations in the US will provide local support and best practices to enable US companies to penetrate the high-growth but complex Asian Internet community quickly and with confidence."
"As an Asian pioneer in the Internet industry, Web Connection can lend key insights and relevant experience to companies seeking to establish themselves in the region. With five years of operating experience and hundreds of successful e-business projects under our belt, we are a pragmatic and trusted guide for companies that are looking to navigate the complexities of this market and build a significant local presence," concluded McKay.
Endorsed as a "Web Connection Company," Dae will retain its name in the short-term and continue to operate and grow from its San Francisco base. Dae will also continue to help its clients establish a presence in the European and Latin American markets.
"chinadotcom corporation and its subsidiary, Web Connection, are leading the way in the development of the regional Internet industry and in developing Asian solutions to meet Asian needs," said Wei-Tai Kwok, co-founder and President of Dae. "We are excited about this new relationship as it will accelerate our growth in Asia-Pacific and offer our clients on-the-ground expertise in six major Internet markets in Asia. This reinforces Dae as the number one resource to American companies wanting to take their Internet strategies global."
Over its five years, Web Connection has evolved into Asia's leading e-business integrator with its unique blend of core competencies in digital strategy, technology integration, creative services and online marketing. It continues to partner closely with clients such as HSBC, Cathay Pacific, General Motors and GE to create winning e-business solutions. The Web Connection was established in Hong Kong by two Asian Internet pioneers, Ian Henry and Peter Hamilton, and today has more than 700 professionals working in offices spanning eight cities across six countries throughout Asia and the US.
The original founders continue to play a key role in the development of Web Connection's business. In addition, Peter Hamilton is Chief Operating Officer and Chief Financial Officer of parent, chinadotcom corporation, while fellow co-founder, Ian Henry, is President, International of chinadotcom.
Henry commented, "Through hundreds of successful e-business projects over the years and the international awards to prove it, the Web Connection has earned its badge as Asia's leading e-business integrator. I take great pride in having seen the company grow so tremendously in five short years. Web Connection's experience in this market, the enormous predicted growth of e-commerce in Asia, coupled with the huge business population in the region are a combination of factors that point the way to a very exciting future for the company."
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-Pacific with offices in Hong Kong, Shanghai, Beijing, 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. The third, partnership, enables chinadotcom corporation to join with established Internet companies to accelerate and expand their entry into the Asian market. To date, through chinadotcom's investment program, the company has invested in more than 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 12 offices and over 350 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.
About Dae Advertising/Dae Interactive Marketing
Founded in 1990, Dae Advertising is a San Francisco-based, award-winning, full-service advertising agency specialising in reaching the Asian-American community. In 1995, Dae Advertising launched Dae Interactive Marketing, one of the first full-service online marketing agencies focusing on the international market. Together, the companies provide global strategic planning, multilingual site building, online advertising development, international media planning, buying and tracking and ongoing in-depth research on Web usage worldwide. Recent clients include Hewlett-Packard Medical Supplies, MCI WorldCom, Charles Schwab & Co and Yaolan.com. Additional information about Dae Interactive Marketing and Dae Advertising is available on the Web at www.dae.com.
Issued on behalf of Web Connection
by Burson-Marsteller Hong Kong
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