b-business partners makes first investment
b-business partners makes first investment Largest investment in European B2B start-up to date. th Stockholm, March 29 , 2000 - b-business partners, the recently formed venture capital company, today announced its first investment in Surplex.com, of Düsseldorf, Germany. Surplex.com is Europe's leading B2B Internet exchange for surplus assets and excess inventory. "We are very excited about this investment coming so soon after our launch, "said Börje Ekholm, Chairman, b-business partners. "We see Surplex.com as a terrific example of how the Internet can transform the way businesses operate." Joining b-business partners in the @18 million round of financing was GRP (Global Retail Partners), a venture capital firm specialized in early electronic commerce investments, and Viventures, a French venture capital fund sponsored by the Vivendi Group. Bruno Schick, CEO of Surplex.com, said: "GRP, b-business partners and Viventures are ideal partners with whom we will be able to grow our business internationally as well as providing us with the industry expertise in our key markets." b-business partners, (www.b-businesspartners.com) with a capital base of Euro 1 billion, was founded by Investor AB, ABB, SEB, AstraZeneca, Atlas Copco, Electrolux, Saab (aerospace), Sandvik, StoraEnso and WM-data. b- business partners aims to foster new leaders in Europe's fast expanding B2B market and will build broader business relationships between both their partner and portfolio companies. The member companies in b-business partners gain both from their financial returns on investment as well as from collaboration on new Internet business applications. Founded in September 1999, Surplex.com AG registers 250,000 Website hits each week and currently offers machines and articles worth DM 750 Million. Surplex.com (www.surplex.com) currently employs 50 people and has offices in Düsseldorf, Munich, Berlin, London and Warsaw. CONTACTS: Norbert Dan Fleshler Kehl + 49-89- + 1 212-935-0210 2308-9714 n.kehl@a- dfleshler@strate b.de gy-xxi.com Ahrens & Strategy XXI Behrent Group ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/29/20000329BIT00770/bit0001.doc http://www.bit.se/bitonline/2000/03/29/20000329BIT00770/bit0002.pdf