March 2001 - Posts

Friday, March 30, 2001 6:55 PM

Point2 Repurchases Shares from Bid.Com

Point2 Technologies, Inc., the developer of Internet-integrated software for sales, marketing and inventory management, announced today the repurchase of its shares from Bid.Com International Inc. (NASDAQ: BIDS; Toronto: BII). Point2 exercised an option it held to acquire back Bid.Com's 51% interest in Point2.

"In the past, our relationship with Bid.Com has been a mutually beneficial one," said Wendell Willick, Point2's Chief Executive Officer "But we're moving in a different direction, and developing strategic alliances with some of the industries largest companies, most recently G.E. Capital and Caterpillar Inc."

Point2 will continue its aggressive research and development of Internet software technology to accelerate its growth in the heavy equipment market and to pursue new licensing and partner relationships in new capital goods industries.

About Point2

Founded in 1996, Point2 Technologies has quickly become the market leader in software in the heavy equipment industry. Point2 was recently named the #1 e-business in Canada by a Bain and Company study sponsored by Canada's national newspaper, The Globe and Mail. Point2 designs proprietary, patent-pending Internet software for heavy equipment dealerships representing manufacturers such as Caterpillar, John Deere, Komatsu, Case, Hitachi and Volvo. Over 75 global heavy equipment companies at more than 375 branch locations across North America and Europe, rely on Point2 software to power their e-businesses.
Posted by scorbett
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