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.