PRESS RELEASE January 2008
ARGENTVIVE PLC STRATEGIC PARTNERSHIP WITH iFORCE LIMITED
ArgentVive plc ("ArgentVive" or the "Company") is delighted to announce that AuctionAssist Limited ("AuctionAssist"), its multi-channel market business, has entered into a strategic partnership with iForce Limited ("iForce"), a specialist return goods processing company. Under the terms of the agreement AuctionAssist™ will provide an onward sales and auctioning solution for iForce™ and in return iForce™ will become AuctionAssist’s preferred supplier for reverse logistics.
With increasing competition in the retail sector leading to reduced prices, together with the legislative challenges brought about by the Distance Selling Act and the WEEE Directive, there is a significant and growing need for an efficient processing solution to ease working capital pressure on retailers and to maximize the value of returned goods. This strategic partnership between AuctionAssist™ and iForce™ will provide a market leading solution to retailers and manufactures for dealing with returned stocks.
The iForce™ returns solution is built around a technologically advanced streamlined processing system. iForce’s software provides real time information enabling clients to pre-plan work schedules and agree [disposition/delivery] routes before the items have been received at the returns center. iForce's clients include Tesco and House of Fraser. During peak periods iForce™ currently processes over 15,000 individual items per day.
AuctionAssist™ has developed multi-selling market making systems for disposing of distressed stocks for maximum value. AuctionAssist™ recently achieved "Merchant@" status on Amazon and is a leading established electrical retailer on eBay. AuctionAssist™ is also currently developing a B2B sales channel which is expected to be launched during 2008.
Sieng Van Tran, CEO of AuctionAssist, commented: "iForce™ operates one of the most advanced and efficient processing systems in the industry. We believe that the technology and experience AuctionAssist™ has to offer will create a unique partnership that will provide significant benefits to both parties as well as creating a reverse logistics operation that carries significant appeal to retailers."
Commenting on the agreement, Mark Hewitt CEO of iForce: "We have looked at partnering with various organisations and believe that AuctionAssist™ is the most advanced. We are confident that this collaboration will result in us being able to provide an innovative market leading solution to our existing and future customers."
ENDS www.iforcegroup.comEditor’s Notes:
AgentVive plc is an e-commerce group with market leading technology and the development capability, infrastructure and sales models to rapidly expand in B2B and B2C markets. The aim of the company is to develop online businesses in order to become a major provider of internet based solutions to enterprises across a wide range of industry.
AuctionAssist Limited is an online trading facilitator, which uses in-house market making systems and platforms to generate income from percentage commissions. The service enables companies to increase revenues and margins without impacting on their core sales channels. As a leading provider of asset value recovery solutions the company employs specially developed listing software to maximise the selling price of goods on behalf of its clients. This is achieved by creating niche marketplaces within sectors which are not represented by the other major online portals.
iForce is one of the UK's leading e-fulfilment and returns logistics businesses, offering end-to-end solutions to their clients’ business challenges. Founded in 1998, iForce has pioneered the development of traditional fulfilment skills, processes and technologies for the e-commerce world. iForce's other services include strategic planning & consultancy for e-retailers, e-analysis, stock management, customer service and logistics. iForce has approximately 400 staff and over 1.2 million square feet of warehouse space in seven UK locations serving the UK and Continental Europe. Clients today include: John Lewis Direct, House of Fraser, Boots.com and Great Little Trading Company for e-fulfilment, Tesco and House of Fraser for Reverse Logistics and Green King and Bentley for Direct Marketing.
Enquiries: ArgentVive plcKevin Fleming, Finance Director Tel: 01932 569 912 Charles Stanley SecuritiesRussell Cook/Carl Holmes Tel: 020 7149 6000 ArgentVive media enquiries: College HillMark Garraway/Kate Rock Tel: 020 7457 2020 IforceNeil Wightman, Sales Director Tel: 020 8957 5015
iForce Media Contacts: Ross Matthews or Lloyd Arkill Arkill Matthews Ltd Tel: 01923 770 455 Mob: 07711 347 701 or 07903 809127 Email: info@am–pr.net