|
Qwest heads e-business tie
|
 |
May 11, 1999: 5:12 a.m. ET
Qwest, SAP and HP form new Internet alliance to tap business software market
|
LONDON (CNNfn) - Qwest Communications, Hewlett-Packard and Germany's SAP signed a strategic alliance Tuesday designed to boost their share of the booming market in Internet-based business software.
The rapid spread of computer-based management systems known as enterprise-resource planning has boosted demand for outsourced computer systems accessed over the Net.
Businesses share software based at a central location and download applications and their own stored data over the Net on secure phone lines.
The market is particularly strong among small and medium-sized businesses and is expected to reach $21 billion by the end of 2001.
Hewlett-Packard plans to invest $500 million in the joint venture in the form of computer equipment to complement Qwest's long-distance fiber-optic network. SAP America, the U.S. affiliate of Europe's largest software firm, will offer its industry-standard R/3 business planning system to users of the Qwest network.
"We are confident that by working with SAP and HP we will rapidly accelerate the demand of hosted application services," said Lewis Wilks, president of Qwest's Internet unit.
QWest (QWST) shares closed up 1-3/8 at 91-1/2 Monday, while Hewlett-Packard (HWP) closed up 7/16 at 80-3/8. SAP [FSE:FSAP3] shares rose 8 euros to 348 euros Tuesday. 
-- from staff and wire reports
|
|
|
|
|
|
Hewlett-Packard
QWest
SAP
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
