Pacificnet, Inc. (PACT) has announced that Sony’s (SNE) Hong Kong operations retained the company to provide e-commerce solutions for Sony Style. Unfortunately, financial terms are not disclosed. PACT shares are responding well with a 9% pop to $7.00 on 725,000 shares.
The platform includes the following internet applications: mass multi-user online customer log-in registration, administration, MySony membership management, billing, sales and order reports, warehouse inventory management and backend ERP interface with SAP systems, firewall and load-balancing systems, Web+ application servers, credit-card security management, and a shopping cart and payment system which enables customers to purchase products from Sony Style online, and make payment online using a credit card.
Pacificnet (PACT) is one of the Chinese online and offline operators that many companies either use or at least go to for technical assistance in China, Hong Kong, and elsewhere in S.E. Asia. With a tiny $82 million market cap, a partial cult stock status, an HQ in China, and a name like Sony you never know how much volume will end up trading. It usually trades under 400,000 shares per day.
Jon C. Ogg
January 11, 2007
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