A MAJOR online exchange for the global electronics industry has appointed its senior management team and secured $200m worth of funding.
e2open.com is backed by some of the world’s leading electronics and IT companies, including Hitachi, IBM, Toshiba, Acer, Nortel Networks and Matsushita Electric (Panasonic).
Following a phased roll-out, the business-to-business exchange will eventually offer a wide range of procurement, auction and collaborative design options to its founders and the thousands of other companies they hope will sign up.
Due to begin operations later this year, e2open’s services will include reference databases for electronic parts used by engineers, spot transactions and strategic sourcing.
e2open is currently piloting its trading and supply chain collaboration systems with its technology partners Ariba, IBM and i2.
The e-marketplace recently recruited Mark Holman, formerly of Solectron and General Motors, as chief executive. Paul Sterne, another former GM executive, becomes chief financial officer.
e2open will launch with $200m worth of capital behind it, half from its founders and the rest from investors.
Based in Silicon Valley, the exchange plans to build collaboration hubs in Europe and Asia using the local knowledge and expertise of its founding companies. It expects to have a particularly strong presence in Japan, Korea, Taiwan and Singapore.