Fulfillment for Sale

eSpeed buys Ascendant fulfillment division

GARLAND, TX and DALLAS, TX  PRNewswire  December 14, 2000  Ascendant Solutions recently announced the sell of their fulfillment division to the Dallas-based eSpeed Fulfillment. According to the terms of the agreement, eSpeed Fulfillment will assume Ascendant's warehouse facility, retain all fulfillment employees and managers, purchase warehouse-related assets and continue to provide fulfillment management services for Ascendant Solutions' clients.

We are very satisfied that we were able to sell our warehouse operations to eSpeed, accomplishing part of our on-going strategy to focus on providing system solutions to our clients, said David E. Bowe, president and CEO of Ascendant Solutions. We reached a mutually beneficial agreement with eSpeed Fulfillment that will provide continuity for our clients and for our employees and that was the goal from the beginning.

Fulfillment can be the Achilles heel for companies who aren't prepared with a sophisticated infrastructure to warehouse, ship and facilitates order and inventory management, says Jeffrey B Zisk, founder, president and CEO of eSpeed Fulfillment. ESpeed has that fulfillment expertise and the technologies to efficiently manage its clients' orders and inventory.

In addition to the sale, eSpeed and Ascendant entered into a three-year Marketing Alliance Agreement, meaning they will market their respective services to each other's clients. Zisk added, Our marketing agreement enables us to cross sell our services, which will be very beneficial to our clients.