Hong Kong, March 28, 2001
E-Business Integrator Celebrates Company's Evolution as Demand for Internet Professional Services Continues
— Web Connection, Asia's leading e-business integrator and wholly-owned subsidiary of chinadotcom corporation (NASDAQ: CHINA), today announced that it will be known as Ion Global. The transition to the new brand for the company and its network of offices around the world starts immediately.
"We wanted our name to reflect our distinct position in the marketplace. Ion Global is the only company that has an unparalleled combination of end-to-end, integrated service capabilities, a pan-Asian footprint with global outreach and a six-year track record of success," commented Peter Hamilton, co-founder and CEO of Ion Global and COO of chinadotcom.
The name connotes the dynamism and innovation of the company's people and its solutions for clients, coupled with a recognition that the business has evolved onto the world stage. The word ION was a suggestion from one of the company's staff members in Shanghai and described as "a charged element that never rests, it seeks balance and completion." Through a collaborative twelve-month brand development process, an international branding committee also short-listed the name, making Ion Global a clear choice.
Jon Winslow, Ion Global COO, added, "We felt that our previous name did not accurately reflect our full capabilities and was limiting the way others viewed our business and where we are heading. After considerable progress in building a robust organisation around the world, changing our name to Ion Global is a natural and unifying next step for us and our clients."
The continuing demand for Internet professional services has set the scene for Web Connection's name change to Ion Global. Over the last six years, the company has assembled a world-class management team that is able to support clients seamlessly across multiple markets in Asia and around the globe. The firm has established a clear position as Asia's leading e-business integrator with 1,000 professionals in 10 countries around the world.
"The world's leading companies continue to see the Internet as a platform for business improvement," said Steve McKay, President of Ion Global. "Whether their objectives are to achieve cost savings, productivity gains or deeper customer relationships, there continues to be a strong mandate by the CEOs of our clients to leverage emerging technologies for business gain."
According to a January 2001 Bear Stearns report on Digital Professional Services, it "expect[ed] to see increasing IT budgets, higher allocations for e-business initiatives and growth in the use of consultants." The survey found that "companies today are looking for consultants with deep technology expertise, vertical industry knowledgeKand ability to deliver tangible results." 1
Another January 2001 Bear Stearns equity research report on Asia estimated that in 2000 companies used a total of US$1.5 billion on Internet professional services in Asia (ex Japan), compared to US$859 million spent in 1999, despite the softened economy. Bear Stearns forecasts that such spending will increase to US$4.7 billion in 2004, resulting in a robust 33% compound annual growth rate for the sector.2
Ion Global was recently named Best E-Commerce Solutions Provider at last month's Internet World Asia Industry Awards.
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Notes to Editors
1 Bear Stearns and InformationWeek "2001 Outlook for Digital Professional Services", January 2001.
2 Bear Stearns Asian Equity Research on chinadotcom corporation, 31 January 2001.
About the Logomark
The logomark was created as a direct graphical interpretation of the name. The typography was chosen for its clean and sophisticated style. The symbol encompasses two shapes that together represent the company's global presence and vision. The spherical form mirrors the breadth of the network, whilst the "plus" infused represents Ion Global's four core competencies of strategy, technology, user experience and marketing.
About Ion Global
Established in Hong Kong in 1995 as Web Connection, Ion Global offers e-business strategies and solutions for major corporations that recognise the power of the Internet as a business platform and customer relationship channel. Ion Global is a wholly owned subsidiary of chinadotcom corporation, a Pan-Asian integrated Internet services provider.
Ion Global brings together a rare blend of core competencies - digital strategy, user experience, technology and marketing - which represents the core ingredients of a successful e-business solution. Ion Global has achieved an unparalleled Asian-based geographic footprint with global reach. It has 1,000 staff in offices in Hong Kong, China, Singapore, Japan, Taiwan, Korea, Thailand, Australia, USA and the UK.
Major clients include HSBC, Cathay Pacific, GE, Procter & Gamble, Samsung, Cable & Wireless, David Jones, MCI and DFS/LVMH. For more information, please visit www.ion-global.com.
About chinadotcom corporation
chinadotcom corporation (Nasdaq: CHINA) (Website: www.corp.china.com) is a leading integrated Internet company offering e-business solutions, portal and e-marketing services. Through its three-dimensional business model, chinadotcom provides a full range of Internet services around the Asia Pacific region that: 1) build e-business strategies and solutions (chinadotcom e-solutions), 2) distribute content via its portal network (chinadotcom media assets), and 3) sell services through online marketing (chinadotcom e-marketing).
Fuelling the growth of these three business units is a synergistic investment strategy (chinadotcom ventures) that leverages on chinadotcom's existing operational and cost infrastructure. By partnering with companies that have proven and successful track records, chinadotcom is well positioned to create long term shareholder value through its investments.
The company and its subsidiaries have offices in more than 10 markets, including Japan, Korea, Australia, Mainland China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, UK and the USA. For more information about chinadotcom corporation, please visit www.corp.china.com
Safe Harbor Statement
The statements in this news release, other than the historical financial information, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factors that could affect chinadotcom corporation's results of operations is detailed in chinadotcom corporation's registration statements and annual report, as filed with the United States Securities and Exchange Commission.
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