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Hyperchannel, TechnologyNet to Create Global IT Marketspace

[May 16] Hyperchannel Ltd and TechnologyNet announced Tuesday their intention to create a global trading system for the IT industry.

Hyperchannel already runs the Hyporium trading system in seven languages across 13 European countries, while TechnologyNet operates in the United States and Canada. Together they will make what they call a "global e-marketspace," cooperating on technical development and marketing, and rolling out the system to additional countries.

"Hyperchannel's experience of working in multiple countries, languages and currencies, specifically in Europe, will be invaluable to TechnologyNet. In return, we will be able to leverage TechnologyNet's extensive international contacts," said Hyperchannel's European Chief Executive Officer Nick Kandola.

Alan Weinberger, chief executive officer of TechnologyNet, said international expansion could be conducted much more quickly with cooperation between the two companies.

Backed with $24 million in venture capital, Hyporium.com is targeting the reseller community across Europe, with services in France, Denmark, Germany, Holland, Sweden, Spain and Italy. It predicts that over $10 billion worth of IT stock will pass through its trading hub over the next two years.

TechnologyNet.com launched in 1995 with the aim of bringing together IT solutions providers, manufacturers and distributors into a single community. It has won the support of many distributors, including Ingram Micro and TechData, and has set up partnerships in Brazil, China, Israel and India.



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