Business Services Industry
Multex.com to Build Merrill Lynch Investment Managers Global Web Portal
Business Wire, Nov 15, 2000
Business Editors
NEW YORK--(BUSINESS WIRE)--Nov. 15, 2000
Highlights Multex.com's Leading Position in ASP Web Hosting and
Development Arena for Financial Institutions
New Site to Feature Multex.com's Real-Time Estimates Product
Multex.com Inc. (NASDAQ: MLTX), one of the Internet's leading financial e-marketplaces connecting buyers and sellers of financial services, today announced that its MultexEXPRESS Application Service Provider (ASP) division has signed a contract with Merrill Lynch Investment Managers (MLIM). The agreement underscores Multex's leading position as a provider of ASP services to financial institutions.
"This partnership represents another significant, long-term contract which highlights our ASP service as the choice for global investment institutions who are e-commerce enabling their business. In the third quarter our ASP unit reported revenue growth of 208% from the year-ago period and this is just another example of how we have achieved triple-digit growth in this segment of our business. Merrill Lynch Investment Managers is a truly global asset manager, and MultexEXPRESS enables their portfolio managers and analysts to communicate on investments across borders and time zones, exchanges and financial instruments," said Gregg Amonette, Senior Vice President of Multex.
According to the terms of the agreement, Multex will develop and power a new research web site for more than 675 MLIM analysts and portfolio managers around the world. The site will feature proprietary MLIM research in conjunction with commingled broker research, as well as Multex Real-Time Estimates, which features earnings estimates, growth rates and recommendations and will soon contain forecasts for revenue, funds from operations and target prices.
MLIM joins the growing ranks of Multex's existing ASP clients, which include TheMarkets.com, Schroder Investment Management and U.S. Bancorp Piper Jaffray. To date, Multex hosts and has developed 120 financial web sites.
About Multex.com, Inc.
Multex.com, Inc. (http://www.multex.com) is one of the Internet's leading financial e-marketplaces connecting buyers and sellers of financial services. Multex.com is a global company providing cutting edge financial intelligence tools that enable and support decision-making processes for the major financial marketplace participants: institutional investors, investment banks, brokerage firms, corporations, and individual investors. The company focuses on three core business areas: Application Service Provider (ASP), which develops, hosts and operates web sites and portals for financial institutions; Institutional (B2B), which provides real-time, web-based financial applications and information to institutional investors and other financial institutions; and Individual (B2C), which provides financial applications and information to individual investors through a network of branded and affiliate web sites.
Multex.com serves this fast-growing and diverse financial e-marketplace through a number of industry leading brands, including: MultexNET,(R) a subscription/transaction based, real-time, online service providing financial information from more than 750 firms such as Merrill Lynch, Salomon Smith Barney and RS Investment Management to more than 10,000 buy-side firms and over 38,000 users; MultexEXPRESS,SM a web-development and hosting business with 120 sites; BuzzPower, industry leading collaborative commerce tools; and Multex Investor, which has attracted more than 2 million registered members; and Sage Online and Market Guide, with 1.6 million unique users. Multex.com has more than 500 information and distribution partners including: Reuters, Bloomberg, Dow Jones, AOL, Yahoo!, Quicken.com, CBS MarketWatch and CNNfn.com.
This press release includes forward-looking statements that are based on our current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions about Multex.com that could cause actual results to differ materially from those in such forward-looking statements. Reported results should not be considered an indication of future performance. Such risks and uncertainties are described in the periodic reports Multex files with the Securities and Exchange Commission. Multex undertakes no obligation to update any forward-looking statements contained in this press release.
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