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PA Consulting Group is to incorporate Lost Wax’s proprietary Agent technology into its Strategic Sourcing application

London, April 12th 2001 – PA Consulting Group, the leading management, systems and technology consulting firm, and Lost Wax, a European e-commerce technology company, are undertaking a joint-initiative to address supply chain issues facing large companies. Part of the initiative will involve combining Lost Wax’s Intelligent Agent technology with PA’s Strategic Sourcing Solutions.

“Recently many companies have been looking at automating procurement of indirect costs as a way of saving money. Strategic Sourcing takes this one stage further. It is about major corporations focusing their attention on existing relationships with key suppliers to derive maximum benefit and cost savings from automating procurement” said Steve Davenport, PA Consulting Group. “By combining our existing technology with Lost Wax’s agent technology platform we have a solution which addresses this critical business issue and allows large companies to make real cost savings.”

PA has chosen to incorporate Lost Wax’s innovative B2B e-Commerce Platform into its existing Strategic Sourcing Solution, designed to allow companies to reduce costs in the supply chain whilst maintaining levels of service. Lost Wax’s technically advanced platform, built using Intelligent Agent technology, will add negotiation, auctioning and matching tenders functionality to the application. The other components are Oyster, PA’s datawarehousing application and PA portal, solutions for which PA has exclusive distribution rights.

“Lost Wax and PA have agreed a business plan to focus on solving a common goal. This initiative will involve the two companies working together on marketing and technology projects solving some of the big issues facing the supply chains of large companies. The markets we are turning our attention to initially are the big players within the Pharmaceutical and Insurance industries,” comments John Hilton, Sales & Marketing Director, Lost Wax.

About Lost Wax (www.lostwax.com)
Lost Wax is a European e-commerce technology company. It is at the forefront of agent technology, delivering agent-based software solutions that are critical to the future success of e-commerce.

Lost Wax has a five year track record developing business critical e-commerce solutions for some of Europe’s most pioneering e-businesses. It has also developed and offers a B2B e-Commerce Platform which is one of the most advanced software platforms available. Customers include the Baltic Exchange, Egg, Eurobenefits, General Motors (OnLine Finance), Sony, Psion and Orange.

Lost Wax currently employs 100 people. By delivering ground-breaking and innovative software projects it has built one of the most experienced Java, XML and Agent software development teams in Europe. The leading-edge nature of these projects has enabled Lost Wax to stay at the forefront of developments, tackling the most challenging technology issues and gaining significant insight into how the industry will evolve.

About PA Consulting Group
PA Consulting Group is a leading management, systems and technology consulting firm, with a unique combination of these capabilities. Established almost 60 years ago, and operating worldwide from over 40 offices in more than 20 countries, PA draws on the knowledge and experience of some 3,700 people, whose skills span the initial generation of ideas and insights all the way through to detailed implementation.

PA builds strategies for the creation and capture of shareholder and customer value, and helps clients accelerate business growth through innovation and the application of technology. PA works with clients to improve performance, mobilize human resources and deliver change effectively, including managing major projects, and designing and implementing enterprise-wide systems and full e-business solutions.

PA focuses on creating benefits for clients rather than merely proposing them, and this focus is supported by an outstanding implementation track record in every major industry and for governments around the world. PA also develops leading-edge technology both for its clients and within its own portfolio of venture companies in areas ranging from software to wireless technology to life sciences.

PA distinguishes itself from its competitors through the range and quality of its people, the depth of its industry insight, its development and use of technology, and also its independence and culture of respect, collaboration, and flexibility in working with clients.

Though its wireless technology expertise PA is the leading supplier of end to end solutions, both to the mobile telecoms industry and to leading corporations world-wide. PA's technology-led consultancy solutions for 3G operators range from strategy development and business planning through to IT architecture and design and WASP construction and services creation to network design and roll-out management. PA supports vendors directly through the provision of contract design of infrastructure elements, marketing and bidding support and infrastructure element design.

We are proud that our clients say, "PA makes it happen."


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Sarah Auckland or Chris Wright at EVUS, 020 7386 9242, saraha@evus.com


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