Navidec's Automotive Division Announces Plans to Expand Agreements
5 April 1999
Navidec's Automotive Division Announces Plans to Expand Affinity Group Licensing AgreementsDENVER, April 5 -- Internet auto buying and business solutions developer Navidec Inc. today announced plans to dramatically expand the number of licensing agreements for the company's successful network of auto buying and research web sites. This growth will enhance the company's well-established affinity group model that currently includes licensing agreements with financial institutions, Internet portals and the media. "While our competition pays third parties for vehicle leads and an expanded Internet presence, Navidec proliferates the online automotive marketplace through revenue-generating content agreements with respected third parties," said Ralph Armijo, president and CEO of Navidec Inc. "As a technology company, we can quickly provide affinity groups with a leading auto research and buying solution." In 1998, Navidec implemented its affinity licensing plan, providing online auto research and buying solutions for third parties. Using this strategy, Navidec has become the auto content provider for Bank One, CBS.com, Excite.com, Netscape.com, WebCrawler.com and Prodigy. In expanding this plan, Navidec intends to focus on additional affinity groups such as credit unions, media groups, insurance companies and organizations looking to provide auto-buying services to their employees and clientele. The company expects its strategy to fuel the continued growth of the company's network of auto buying and research web sites. "Navidec's ability to provide a complete auto buying solution caters to large organizations and portals that want to offer superior content and functionality while keeping visitors within their sites," said Michael Kranitz, Navidec's vice president of strategic development. Navidec Inc., based in Englewood, Colorado, is a leading national provider of products and solutions that use web-based technologies to achieve its customers' business objectives. From commercial web site development to the design and implementation of intranet and extranet applications and tools, Navidec helps customers develop successful online solutions. Navidec's premier vertical market focus is on the automotive industry with its USWheels.com, CarWizard.com and LeaseSource.com web sites, Navidec partners with Bank One and regional media outlets to produce USWheels.com web sites in markets nationwide. The company's web site address is http://www.navidec.com. All statements in this press release, other than historical facts, are forward looking statements. These statements are based on certain assumptions and analyses made by Navidec in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of risks and uncertainties, including general and economic business conditions, demand for automobiles, competition from other automotive online services, market acceptance of the Wheels solutions, the ability of Navidec to reach agreements with local media partners and other risk factors indicated from time to time in Navidec's filings with the Securities and Exchange Commission. These filings are available online at http://www.freeedgar.com.