E-commerce companies acquire independent distributors
By Staff -- Purchasing, 1/13/2000
Two leading electronic commerce online purchasing services have announced they have acquired independent distributors to help the e-commerce companies fulfill growing demand.Need2buy.com, an online marketplace for electronics buyers, will acquire independent distributor MDC Electronics. "The acquisition positions Need2Buy as a total purchasing solution for OEM buyers by combining our transaction and market-making capabilities with MDC's expertise in fulfillment and logistics," says Maury Friedman, CEO of Need2Buy.com.
Buyers using Need2Buy.com post requests for quotations (RFQs) on the company's Web site to solicit competitive bids in a reverse auction format from multiple qualified vendors who meet the criteria specified by the buyer's RFQ. Buyers can then choose the bid they like best.
Friedman says Need2Buy.com's user base is growing rapidly and the acquisition will enhance its ability to meet the demand for its e-commerce services.
"MDC's strong back office and its deep network of worldwide sourcing relationships provide us with the infrastructure to sustain significant growth going forward," says Friedman.
MDC Electronics will become the core of Need2Buy.com Inc.'s newly formed fulfillment division, Need2Buy-Direct. MDC's extensive, proprietary database of worldwide component sources, in conjunction with its advanced communication and fulfillment system, will serve as an alternative source to the Need2Buy Marketplace when orders cannot be fulfilled online. MDC also offers Need2Buy's customers access to its engineering services to research and source alternate parts or solutions when the desired parts are no longer in production or are otherwise unavailable.
Meanwhile, PartMiner, also an online marketplace for electronic components, has acquired Accurate Components. The acquisition is expected to help fulfill demand that is being generated from its Internet services.
"It's clear that we needed to immediately build or buy additional infrastructure to meet the demand created by new buyers coming to us daily from the Internet," says Dan Nissanoff, CEO of PartMiner.
Under terms of the agreement, Accurate's operations will collapse into PartMiner. Accurate Components is an ISO 9002 certified independent distributor selling semiconductors, passives and connectors. PartMiner operates the online Electronic Commerce Free Trade Zone that allows buyers to find and buy parts from their suppliers online.
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