Proxicom-Iberdrola to Provide B2B Ecommerce

Thursday, September 30, 1999

United States-based Ecommerce solutions provider Proxicom (NASDAQ: PXCM) and Spanish power company Iberdrola have formed a 20:80 partnership to provide Business-to-Business (B2B) Ecommerce solutions and consulting services in Spain and Latin America, Proxicom announced. The initial capital investment in the joint venture, dubbed Kristina Internet Business Solutions (Kristina), is some US$7.33mn, Proxicom spokesperson Kenneth Reed told BNA. Kristina will initially have offices in Spanish cities Madrid, Barcelona and Bilbao, but plans to establish offices Latin American major centers such as Mexico City, Rio de Janeiro and Santiago de Chile, Proxicom energy director for Europe, Paul Zupan, told BNA. The joint venture's first project involves Iberdrola's internal company online services in Europe and Latin America, he continued. Iberdrola operates in Argentina, Bolivia, Brazil, Chile, Colombia, Guatemala, Mexico, Ecuador, Costa Rica, Nicaragua, El Salvador, Honduras, Peru and Uruguay. Kristina is currently negotiating with eight potential external clients, two of which are Latin American, two are multinational and four are Spanish, Zupan said. The Latin American companies are both marketing organizations and one of them is a government agency, he added. Proxicom ( tailors Ecommerce solutions for four industries: Energy & Telecommunications, Financial Services, Retail, Manufacturing and Service Industries.

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