Secure Internet Commerce Network

2918 5th Avenue, Suite 210
San Diego, Ca 92103

tel.:  619.294.9191
http://www.sicomm.net

Press Release

 
April, 2005



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
 

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.

 
About SicommNet
 

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.

 
Contact SicommNet
Name : Paul McEneany
Phone : (877) 742-6661 ext.130
eMail : mceneany@sicomm.net