Daewoo and Casbah to Develop Global Used-Car Cyberauctions
23 February 2000
Daewoo and Casbah to Develop Global Used-Car Cyberauctions
SAN JOSE, Calif.--Feb. 22, 2000--Casbah Corporation, the technology partner of choice for business-to-business (B2B) net market makers, today announced it has entered an agreement with Daewoo Information Systems Co., Ltd. to jointly develop global online used-car cyberauctions.The cyberauction web sites, which will initially be developed for Korea and Poland, will facilitate used-car sales between wholesalers and dealers, as well as between dealers and consumers. Daewoo and Casbah also plan to expand the auctions to markets throughout Eastern Europe, Central America and South America. The first auctions are expected to go live during the second quarter of this year.
Casbah Corporation is an e-commerce solutions provider with the only market-ready product capable of powering the next generation of B2B Internet trading exchanges: virtual trading networks that allow multiple buyers and sellers to conduct automated transactions using multiple decision criteria while simultaneously interacting with parties throughout the supply chain.
"Casbah is uniquely qualified to deliver the systems and services to power Daewoo's global used-car cyberauctions," said Roy Graham, president and chief executive officer of Casbah. "This project allows us to 'pull out all the stops' and draw upon each of our disciplines to break new ground in the automotive marketplace. The new site will enable used-car dealers to work more efficiently with wholesalers and reach many more buyers while saving considerably on costs related to maintaining showroom space."
Under the terms of the agreement, Casbah and Daewoo will jointly develop a strategic business model and design and build the auction sites using Casbah's advanced dynamic trading technology. Daewoo will manage ongoing operations of the marketplaces, which will feature live auctions between wholesalers and dealers, and continuous 24x7 cyberauctions between dealers and consumers.
"We were drawn to Casbah because they understand the challenges of creating web-based businesses from the ground up," said Young Sup Kim, president of Daewoo Information Systems. "We are pleased to jointly pursue these truly global e-commerce opportunities, which position Daewoo as a major force in Internet development for the automotive industry in the 21st century."
About Daewoo Information Systems
Daewoo Information System Co., Ltd (DIS) is a leading system integration company based in Korea. Providing a full range of information technology and e-business services, from systems design and implementation to consulting and outsourcing services, the company has completed major projects for government and education organizations, financial service corporations and manufacturing companies in Korea and throughout Asia. The company's Internet-based solutions are designed to address the rapidly changing business environment. DIS can be reached by e-mail at irin@disc.co.kr.
About Casbah
Casbah Corporation (www.casbahcorp.com) is the technology partner of choice for business-to-business net market makers. Casbah's dynamic trading engine fulfills the needs of today's net market makers while setting the standard for the next generation of B2B e-commerce. Its unrivaled multi-agent technology delivers an easy-to-deploy, platform-independent solution that enables real-time trading in any e-commerce environment.
Current customers include Metalclick, Butterfield & Butterfield (an eBay company), and Rabin Brothers. Casbah can be reached in the US at 408/280-1975 or via e-mail at info@casbahcorp.com.
For more information, contact: Fran Reich, Citigate Dewe Rogerson, tel: 480/585-8065, email: freich@getnet.com; Maria Stokes, Citigate Dewe Rogerson, tel: 415/274-7586, email: mstokes@citigatef.com