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Viewlocity gets US$25 million from private placement

DHL leads the way in the private placement exercise that raised US$25 million for Viewlocity.
Written by Mervin Chua, Contributor

DHL leads the way in the private placement exercise that raised US$25 million for Viewlocity. - Mervin Chua

SINGAPORE, 28 July 2000 - Allotting US$25 million of its Series E preferred stock, Viewlocity raised US$25 million in funds injection from SingTel, SK Global, DHL, Marconi Ventures and Deutsche Post, as well as other financial investors.

As a lead contributor in the private placement exercise, DHL, which operates in 226 countries, has been using Viewlocity for electronic data interchange (EDI) infrastructure and is moving to create a foundation for private trading exchanges using Viewlocity solutions.

"DHL is quickly moving toward becoming a complete logistics partner and Viewlocity is playing a critical role in helping us achieve that goal," Colum Joyce of DHL explained. "Simply stated, we rely on Viewlocity's integration expertise to ensure complete visibility throughout our trading exchanges."

In its bid to develop an Asia Pacific e-business infrastructure across Asia Pacific, SingTel has selected Viewlocity to integrate disparate enterprises for e-business as SingTel focuses on creating an Asia Pacific e-business structure. 

Last month, Viewlocity and Marconi InfoChain announced plans to enable customers and suppliers alike to track products and assets globally. Besides creating a supply chain ASP (Application Service Provider) through Marconi's InfoChain business, the solution will also integrate real time consignment data, physical location data and order information to drastically reduce costs throughout the supply chain.

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