LAS VEGAS, Aug. 30, 2001 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) today reported that Hewlett-Packard has signed an agreement to become a preferred supplier for PurchasePro's commerce network of more than 250,000 businesses. HP is a leading global provider of computing and imaging solutions and services and expects to sell products and services from its HP Business Store throughout PurchasePro's industry-leading commerce network.
As a preferred supplier, HP is given premium product placement throughout more than 300 marketplaces in the PurchasePro commerce network, one of the world's largest. Hewlett Packard's preferred supplier relationship is an expansion of its marketplace license agreement that originated with PurchasePro last March. The HP Business Store, (www.bstore.hp.com), currently serves the small and medium business customer with offerings including the company's latest business PCs, PC servers, networking and mobile devices, printers, digital imaging, handheld PCs, workstations, software and more.
"The elevation of HP to preferred status further validates the strength of the companies on our network," said Chris Benyo, senior vice president marketing and network services for PurchasePro. "Virtually every company in our commerce network has a need for quality information technology products. HP helps fill that need, while PurchasePro's technology enables our members to source, search and purchase HP's products in an easy and fast application."
Under terms of the preferred supplier agreement, PurchasePro and HP will participate in joint sales and marketing activities and expect to reach an additional 2.6 million customers a month through interactive and educational newsletters and e-mail and Internet advertising campaigns. In addition, HP will promote its relationship with PurchasePro on leading Web sites including www.monster.com. HP will also provide companies with "Hot Deals" through its preferred supplier status on the PurchasePro commerce network.
In less than three months, HP has added more than 3,500 products to its catalog and is seeing sales through the network.
About PurchasePro
PurchasePro(r), www.purchasepro.com, is a business-to-business e-commerce leader with the stated goal of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. The PurchasePro commerce network comprises more than 250,000 businesses, authorized to buy and sell, and powers hundreds of private-label marketplaces. PurchasePro provides the following business-to-business e-commerce solutions: e-Procurement for enterprise-wide procurement; e-Source for strategic sourcing, v-Distributor for online distributors; and e-MarketMaker for Internet market makers.
This news release may include forward-looking statements, which are subject to the "Safe Harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and are based on limited information available to us now, which is subject to change. We have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today.
For more information about these risks and uncertainties, see the SEC filings of PurchasePro Inc., including the section titled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 2000, and its 10-Q for the quarter ended June 30, 2001, which are available from the company on request and on the Internet at the SEC's Web site, www.sec.gov.
Note: PurchasePro is a servicemark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.