UPS invests in Asian b-to-b e-commerce company

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Atlanta--United Parcel Service of America has taken an equity stake in NetCel360, a Hong Kong- based company that provides business-to-business electronic-commerce service throughout Asia. Financial terms of the deal were not disclosed. UPS' move comes as the race grows increasingly heated among U.S. multinational corporations to grab land in Asia's nascent b-to-b e-commerce space. The Asian b-to-b e-commerce marketplace is forecasted to top $99 billion by 2003, up from $3.3 billion in 1998, according to International Data Corp., Framingham, Mass.
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