DigitalWork Acquires I-Works
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The terms of the deal were not disclosed, but DigitalWork says the acquisition is intended to expand the firm's current offering that consists of its proprietary Unity Technology platform used to develop and operate online business centers and portals on a private labeled basis for banks, financial institutions, associations, ISPs, telecommunications firms and other small business aggregators.
The result will combine DigitalWork's Small Business Portal, DigitalWork's Online Business Center (OBC) and I-Works' Total Web solution.
"Banks want their small businesses to look to them as the online resource for all their business needs. Because only 25 percent of all small businesses own a web site, banks view providing a web site as a critical first step in helping get their small business customers online," says Rob Schultz, DigitalWork's President and CEO.
"The acquisition of I-Works expands our solution to better enable our clients to provide valuable services to their small business customers," he continues.
The three product offerings will be tightly integrated, providing with the ability to provide their small businesses with the most comprehensive solution on the market.
Through the private labeled solutions DigitalWork says that banks and other small business aggregators will be able to:
- Establish a customized/personalized portal account, giving them access to Internet banking, the Online Business Center and customized content through a single login, user interface and payment methodology;
- Get a customized web site and email address for their business;
- Access over 35 online business services, in functional areas such as marketing, sales, advertising, HR, finance, and IT to help them market their web site and grow their business;
- Market their business and web site to other bank customersthrough the bank's Small Business Portal.
"Small businesses are more interested than ever in using the Internet, but don't always know the best place to start," says Raymond Boggs, vice president of Small Business/Home Office Research at IDC, the Framington, Mass.-based market research firm.
"By partnering with folks that small firms currently do businesses with, DigitalWork will benefit from the relationships that small businesses already have, relationships that can help pave the way for ecommerce and other advanced applications."
Founded in 1998, DigitalWork is headquartered in Chicago, Ill. The firm provides over 35 online business services, in functional areas such as marketing, sales, advertising, HR, finance, and IT, that are private labeled andintegrated within a online business center web site.