USA: World Commerce Online Acquires ProduceOnline.com
World Commerce Online, Inc. (OTCBB:WCOL), a leader in global business-to-business electronic commerce solutions for the perishable products industries, announced today the acquisition of ProduceOnline.com, a leading business-to-business e-commerce provider for the fresh fruit and vegetable industry. Bob Shaw, CEO and Chairman of World Commerce Online, commented, "WCO is a technology company and ProduceOnline.com has substantial domain expertise, which will accelerate our entry into all the segments of the food industry. We have a strong, proven model with Floraplex, trading over one million flowers weekly. With the acquisition of ProduceOnline.com we do have a superior business-to-business product for the produce industry." Chuck James, ProduceOnline.com's CEO, commented, "World Commerce Online's technology provides an immediate, proven, end-to-end solution. Their relationship with i2 and other technology companies makes our combined products the most complete vertical solution." Under the terms of the agreement, ProduceOnline.com was purchased for stock and assumption of liabilities. ProduceOnline.com will maintain its management team and offices in Pasadena and Salinas, Calif.
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