Network Commerce Selects Verity to Deliver Strategic E-Commerce Solutions
Verity Products Enable Network Commerce Business and Consumer Customers to Quickly and Easily Find Relevant Merchants, News, and Products
SUNNYVALE, Calif. - 2000-08-21 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today announced that Network Commerce (Nasdaq: NWKC), a leading e-commerce enabling company, has selected Verity to deliver strategic e-commerce knowledge retrieval solutions to customers worldwide.
Network Commerce is using the Verity K2 Toolkit as an information processing and linguistic analysis solution because of its advanced search features, performance, scalability, flexibility and precision technology. Currently, Verity is deployed in b2bNow.com, a business-to-business marketplace and directory featuring over 610,000 businesses in 260 international markets, and in ShopNow.com, a leading shopping network and directory featuring over 60,000 merchants and over 11,000 affiliate sites. Both b2bNow.com and ShopNow.com are divisions of Network Commerce.
"Our mission is to empower businesses by providing the technology, services and commerce networks needed to successfully conduct e-commerce. Search is a strategic piece of that puzzle," said Dr. Ganapathy Krishnan, chief technology officer of Network Commerce. "Having had a relationship with Verity for several years, we're well aware that they have one of the most sophisticated portal infrastructure technologies on the market. Verity's advanced query language enables us to take user ratings of merchants and use them to weight the search results. This helps other customers find the merchants and products that best meet their needs. In addition, Verity's "fuzzy search" capability helps us fulfill our goal of providing users with relevant information - even if the search request does not result in an exact match."
Network Commerce provides a "soup to nuts" e-commerce-enabling solution allowing both large and small companies to take advantage of the enormous potential of doing business on the Internet. The company not only builds Web sites and provides consulting services, it also maintains its own Web properties and online marketplaces to provide maximum exposure to their merchants and to their customers.
According to Anthony J. Bettencourt, president of Verity, "Network Commerce has consistently demonstrated the strength of its business model with tremendous revenue growth, strong margins, and significant customer growth. In addition, its business partners continue to benefit from the enormous market opportunities created by the rapid increase of business-to-business e-commerce. Network Commerce clearly recognized the need for a turnkey solution that allows businesses and merchants to focus on their core business, not the technology behind it. We're honored that our award-winning business portal infrastructure technology is a strategic part of their solution."
Verity provides market-leading software for building custom knowledge retrieval applications, helping customers to automatically analyze and intelligently refine their Web-based searches. Verity's technology uses a combination of full text, metadata and knowledge-based methods to index and retrieve textual information stored in a variety of formats across corporate intranets and the Internet. It enables the organization and relevance ranking of selected information, thereby allowing users to filter and evaluate information personalized to their specific needs and interests. Verity technology delivers around-the-clock availability and scalable, high-performance throughput for thousands of users searching over tens of millions of documents with sub-second response.
About Verity K2 Toolkit
Verity K2 Toolkit provides a powerful infrastructure for the development of corporate, e-commerce and B2B portals. Verity K2 Toolkit allows brokered search across multiple servers and multiple CPUs to provide the most relevant search results from many information sources without sacrificing the speed or accuracy of the results displayed. As the number of users, queries, or amount of data increases, K2 applications can keep pace with increased demands by adding new CPUs or servers to the network without bringing down the application. Providing 24x7 fault tolerant operations, the Verity K2 Toolkit isolates failures of individual nodes or servers from the rest of the system, ensuring that applications are available when they are needed.
The Verity K2 Toolkit supports tight integration with both COM and Java‘object models, allowing easy integration across a wide range of application servers and Java‘ environments. With industry-standard C language APIs, Verity's K2 Toolkit helps speed application deployment and gives corporate accounts added flexibility in application development, especially for e-commerce and business-to-business application solutions.
About Network Commerce
Network Commerce Inc. is a leading provider of technology infrastructure, services and commerce networks for Internet sites, wireless networks, businesses and merchants. Network Commerce's core commerce infrastructure technology, services and commerce applications are known as the Network Commerce CommerceSuite. Built on the CommerceSuite are the Network Commerce Business Network and the Network Commerce Consumer Network. The Network Commerce Consumer Network is comprised of ShopNow.com, a leading shopping network and directory featuring over 60,000 merchants; BottomDollar.com, a comparison shopping network; and SpeedyClick.com, a leading commerce-enabled entertainment community; and over 25,500 affiliate sites. The Network Commerce Business Network is comprised of b2bNow.com, a business-to-business marketplace and directory featuring over 610,000 businesses in 260 international markets; FreeMerchant.com, a business and merchant store builder with over 100,000 hosted businesses; Ubarter.com, a business-to-business barter exchange network, and over 6,500 affiliate sites. Network Commerce Inc.'s eBusiness Services division provides consulting, custom commerce solutions, and integrated marketing services. Network Commerce Inc. has over 600 employees and is headquartered in Seattle with offices in California and Georgia.
About Verity
Verity is a leader in infrastructure software that powers corporate portals used for sharing information within an enterprise, e-commerce portals for online selling and market exchange portals for B2B activities. Business portals provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 48 of the Fortune 100 and by more than 1,000 corporations worldwide. The markets Verity serves are comprised of e-commerce merchants, e-businesses, market exchanges, government agencies, online service providers, Internet publishers and software developers. Verity customers include Adobe Systems, American Greetings, AT&T, Broadvision, CDNOW, Chapters, Cisco. CNET, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, IBM, Lotus, NewsEdge Corporation, SAP, Siemens, Snap.com, Sybase, Time New Media and Timex.
This press release contains forward-looking statements relating to Verity and the expected performance of its Verity K2 Toolkit products. Actual results are subject to risks and uncertainties. Risks relating to Verity and its products are set forth in its Form 10-K and other reports filed with the Securities and Exchange Commission.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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