Modem Media Selected by GM in Three-year Agreement
15 February 2000
Modem Media Selected by General Motors in Three-year Agreement To Develop Internet Strategy and E-commerce InitiativesAnticipated Revenue of $30 million for Modem Media Over the Next Three Years NORWALK, Conn., Feb. 15 -- Modem Media , the exclusive builder and marketer of customer-focused Me-business(SM) services, today announced that they have been selected by General Motors Corporation to drive the development and implementation of Internet initiatives for e-GM, GM's e-commerce business unit. This relationship is anticipated to generate $30 million in revenue for Modem Media over the next three years and will include the support of Internet branding strategies, particularly for GM BuyPower. An online vehicle shopping and buying service, GM BuyPower provides consumers with access to product inventory, dealer information, and functionality for custom building a vehicle. Modem Media will begin working with General Motors immediately to continue the implementation of strategic end-to-end Internet and e-commerce solutions focused on the needs of customers and meeting those needs across multiple channels. General Motors will have access to Modem Media's full service offerings, including: --Consulting and Research; --Strategy, Planning and Conceptual Development; --Service Building and Development; --Service Marketing and Distribution; and --Continuous Program Measurement, Analysis, and Improvement. "As one of the most respected corporations in the world, General Motors has defined its leadership through innovation, superior business strategy and dedication to customer service," said G.M. O'Connell, Modem Media Chairman and CEO. "We are thrilled to be partnering with e-GM and look forward to working closely with the new business unit on the development of future customer-focused Internet initiatives that underscore GM's commitment to excellence." About Modem Media Modem Media (http://www.modemmedia.com) is the exclusive builder and marketer of Me-business solutions, a customer-focused approach to Internet business. Driven by customer needs, Modem Media identifies Me-business opportunities, and utilizes its conceptual, technological and marketing expertise to build, distribute and manage unique Me-business solutions for global companies and Internet ventures. Headquartered in Norwalk, CT, Modem Media's expanding global presence includes offices in New York City, San Francisco, Toronto, London, Paris, Munich, Tokyo, Hong Kong and an affiliate office in Sao Paulo. With more than 700 professionals worldwide, Modem Media has created customer-focused Internet solutions for global brands such as Citibank, Intel, Delta Air Lines, E*Trade, General Electric, IBM, JCPenney and Unilever. Me-business is a service mark of Modem Media. This press release contains statements that are "forward-looking" within the meaning of applicable federal securities laws, including the expected revenue to Modem Media, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause actual results to differ include the timing and scope of new projects and initiatives, and other factors more fully discussed in Modem Media's filings with the Securities and Exchange Commission.