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Mercantec Press Release

Contacts:
Rachna Luthra
Mercantec, Inc
media@mercantec.com
630.305.3200, ext. 2111



Mercantec Announces Strategic Equity Stake Backed
by divine interVentures


CHICAGO - Tuesday, February 15, 2000 - Mercantec Inc.® today announced that divine interVentures, inc. (www.divine.com), the Chicago-based Internet operating company actively engaged in business-to-business e-commerce through a network of partner companies, paid an undisclosed amount for approximately 32 percent ownership in Mercantec. Mercantec provides industry leading solutions that enable small- to medium-sized businesses to sell goods and services via the World Wide Web.

With divine’s backing, Mercantec can accelerate its strategic plan to offer a complete e-business platform for Internet service providers supplying commerce solutions to small- to medium-sized businesses.

Mercantec’s Internet commerce solutions are endorsed by top commerce service providers including EarthLink, MindSpring, Sprint, Interliant and Verio, and are used by more than 10,000 e-merchants worldwide.

"In addition to funding Mercantec’s strategic e-business platform for small- to medium-sized businesses, the divine partnership should provide us with a gateway to numerous business development opportunities," said Andrew Parker, CEO and president of Mercantec. "The divine management team’s expertise in helping technology companies grow and the opportunity to collaborate with other companies in the divine family will be invaluable as we move forward."

The divine relationship is expected to provide Mercantec with critical operating resources and strategic leverage in the marketplace to deliver on the company’s goals, including the development of an e-business platform that combines the essential technology and critical resources that enable small-to-medium-sized businesses to launch and grow successful commerce sites on the Web. Additionally, Mercantec now can accelerate growth of the company, bolster national and international marketing efforts, expand its global sales territories, and enhance product staffing, marketing and product development.

"We are very pleased to welcome Mercantec to our Internet Zaibatsu™ family," said Andrew "Flip" Filipowski, chairman and CEO of divine interVentures. "To be competitive in today’s economy, it is crucial that companies are able to successfully do business on the Web, and Mercantec’s complete e-business solutions allow merchants to set-up and grow Internet shops easily and quickly. Mercantec’s team of e-commerce experts will be an incredible resource to our partner companies."

About Mercantec Inc.
Established in 1995, Mercantec, Inc. is a leading provider of software products and services that enable Internet commerce. Mercantec distributes complete e-commerce solutions through leveraged channels to small- to medium-sized businesses. Among those channels are service providers, financial organizations, and Internet content providers. Mercantec's service provider channel is more than 135 strong and includes some of the industry's leaders, such as Earthlink, MindSpring, and Verio/HiWay. Among those in the financial channel are American Express and DataPro Software. For additional company or product information, visit the Mercantec Website, www.mercantec.com, or call 630-305-3200.

 

 

 
 
 
  Mercantec, Inc. and SoftCart are registered trademarks of Mercantec, Inc. Start-up, Lite, Suite, Merchant Payment Center, Merchant Connection, Mercantec StoreBuilder and StateTrack are trademarks of Mercantec, Inc. All other products mentioned may be registered trademarks or trademarks of their respective companies. Copyright © 1997-2000 Mercantec, Inc. All rights reserved.