IBM Invests $500M in Euro Net Generation

PARIS (06/22/2000) - IBM Corp. launched a range of services Wednesday aimed at new Internet businesses in what it calls the European Net generation.

The services are aimed at helping startups decrease their "time to profit," said Martin Harvey, IBM's director of communications, sales and distribution for Europe, Middle East and Africa.

IBM is targeting dot-com companies with a range of business consultancy and outsourcing services, including security assessment. It has formed a partnership with application hosting company HostLogic Inc. to offer companies the chance to set up the basics of their automated business process. The service will be offered free for up to six months to eligible businesses.

Some US$500 million of internal resources have been committed to the project, Harvey said. "It's a dedicated team in Europe; these people are not doing other jobs."

The company has also opened a new e-business center in Montpellier, France, for software vendors to demonstrate products to startups in partnership with IBM.

Fifteen vendors are already present, Harvey said, including Check Point Software Technologies Ltd., Chili Soft Inc. and Siebel Systems Inc.

IBM, in Armonk, New York, can be reached at +1-914-499-1900 or at

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