Chase, Deloitte start b-to-b e-procurement company

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New York--In one of the biggest bank and consulting firm alliances to date, Chase Manhattan Bank and Deloitte Consulting have formed a b-to-b e-procurement company. The as-yet-unnamed company, which will focus on the Fortune 1000 marketplace, will begin operations by year's end. Chase Manhattan and New York-based Deloitte will route their combined $8 billion in annual purchasing through the company. The company intends to have $150 billion in purchasing power by the end of 2001. Financial details were not revealed.
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