SicommNet Acquires iNetPurchasing and its Market Leading iCatalog
Completing the End-to-End eProcurement Solution for Public Agencies.
San Diego, CA - Washington, DC. April 25, 2005 –
SicommNet announced the acquisition of iNetPurchasing, Inc., making
iNetPurchasing a wholly owned subsidiary of SicommNet. The established
track record of iNetPurchasing further strengthens SicommNet as a market-leading,
full-spectrum eProcurement service for public agencies. In addition
to its award-winning BASEC system, which provides SicommNet customers
with full internet based eProcurement Bid and Response capability, SicommNet’s
newly acquired iCatalog service allows government purchasers to quickly
search negotiated commodity term contracts via the Internet, to create
shopping carts, place, receive and pay for orders, all through easily
customizable workflow functionalities with full audit tracking and purchasing
history/spend analysis reporting.
“The merger of the iNetPurchasing
and SicommNet technologies, under one umbrella, is part of the natural
evolution in the building of the most comprehensive eProcurement system
in the nation,” said Basil Nikas, co-founder and CEO of iNetPurchasing.
“iNetPurchasing and SicommNet have partnered for over 6 years
on their existing clients bringing national recognition and coveted
awards from the National Association of State Purchasing Officers (NASPO)
for the states of Idaho and Maine. Even more significant, they have
outlasted numerous eProcurement challengers, and have the greatest number
of state eProcurement contracts in the nation,” added Nikas.
“The combined iNetPurchasing and SicommNet truly brings
about a formidable eProcurement solution for government agencies and
states. Our customers can quickly implement this solution with no financial
risk, enjoy business process improvements and achieve an effective outreach
program for their local businesses and suppliers from around the country
in a level, competitive environment which generates savings both in
process flow and improved pricing,” said Dr. Michael Elliott,
Chairman and CEO of SicommNet. “We are pleased to have iNetPurchasing
and the iCatalog as part of the SicommNet solution to our customers,”
added Elliott.
| About iNetPurchasing |
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Washington, DC based iNetPurchasing has been the leading government
iCatalog technology since 1998, when it was part of the team (which
included SicommNet) that competitively won the Texas eProcurement
pilot and the procurement systems for Idaho and Maine. Also included
in its portfolio of contracts are the state of Hawaii and federal
Homeland Security related contracts with the United States Marine
Corps Logistics Command. Like SicommNet’s BASEC system,
iNetPurchasing’s iCatalog system is delivered at no cost
to the contracting agency and charges an eCommerce fee as a percent
of the order value.
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| About SicommNet |
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SicommNet was founded in San Diego in 1998 to provide e-commerce
solutions for public agencies, business enterprises, and the millions
of small and medium sized businesses searching for a way to use
the web as a business tool. SicommNet’s e-procurement system,
which runs on the Internet, is used by the states of Hawaii, Idaho,
and Maine, and several other public agencies.
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| Contact SicommNet |
| Name : |
Paul McEneany |
| Phone : |
(877) 742-6661 ext.130 |
| eMail : |
mceneany@sicomm.net |
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