proxicom , inc. was an interactive agency that developed custom-tailored interactive and web-enabled solutions for global 1000 organizations .

founded in 1991 by american entrepreneur and philanthropist raul fernandez ( entrepreneur ) , proxicom was one of the original interactive professional services organizations from the dot com era .

proxicom provided services for a number of industries including : automotive , financial services , retail & consumer goods ( cpg ) , healthcare , technology & media , government , energy & utilities , and industrial materials & goods .

proxicom

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during the fourth quarter , proxicom opened its london offices , proxicom uk , a wholly owned subsidiary of the company focused on financial services contracts . proxicom already has offices in munich , rome and madrid .
proxicom ( now known as icrossing ) hasn ' t added any jobs yet .
glassdoor gives you an inside look at what it ' s like to work at proxicom , including salaries , reviews , office photos , and more . this is the proxicom company profile . all content is posted anonymously by employees working at proxicom .
my desk at clarity / proxicom circa 2001 just as the dot com bubble burst .
under the agreement between compaq and proxicom , proxicom can terminate the pending deal if the dimension data proposal isn ' t matched by 5 p . m . edt monday .
hired proxicom to implement a system for managing unbundled transmission and storage of natural gas .
a . proxicom has always recognized the value of having a thorough understanding of the industry - specific challenges our clients face . for this reason , proxicom aligns its organization by industry practices , the energy practice being one of proxicom ' s seven active industry focuses .
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proxicom gives icrossing access to an entirely new roster of clients - - as there is virtually no overlap between the two companies , according to scales . of particular note is proxicom ' s automotive vertical , which includes chevron and toyota . dupont is another key proxicom client .
the price compaq paid values proxicom at $ 336 million , but because proxicom has an estimated $ 70 million in cash on hand , the net cost to compaq is only $ 266 million .
proxicom ' s services enable energy companies to redefine themselves in a deregulated , internet - driven marketplace .
upon termination , proxicom will have to pay compaq a $ 10 million termination fee . in an announcement today , proxicom said it expects to move forward with the dimension data deal after the monday deadline passes .
gores technology group , llc acquires proxicom , inc . from dimensions data holdings , plc march 11 , 2004
kinder morgan serves as just one example of the many energy companies that benefit from proxicom ' s services .
fernandez was a competitor whose desire for personal challenge led him to start proxicom as a systems integration firm in 1991 . as the creative challenge of the brave new e - world emerged , fernandez refocused proxicom exclusively on the internet itself .
putting down roots in munich landed proxicom in the southern german state of bavaria , the closest thing europe ' s largest market has to a silicon valley . proxicom headed for italy and spain in 1999 , but all these new ventures challenged the company ' s identity as a chiefly american company . and proxicom chose to ride the wave , not resist it .
proxicom took advantage of this head start to focus on developing internet - based e - business solutions and became the standard - setter for the emerging industry . after the first transaction - enabled mall site with marketplace mci , proxicom developed the first internet - based edi solution for mobil oil . in 1996 , proxicom won the first gold clio ever awarded to a website with our creation for l ' eggs pantyhose . today , proxicom can point to a proud history of being the first .
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s design capabilities and meet the growing needs of a diverse client base increasingly looking to proxicom as their online brand steward .
analysts expected reston , va . - based proxicom to earn 5 cents per share , according to a survey by first call .
proxicom , inc . , reston sandra taylor , ph . d . , 610 - 968 - 2149 sandra . taylor @ urltoken
under the agreement , proxicom is helping united states - based toyota motor sales to expand features and options that customers can use when shopping on toyota ' s site . proxicom helps clients with projects ranging from the development of web sites to the formulation of internet strategies .
last month icrossing completed the integration of two firms it acquired last year , marketing technology provider sharp analytics and web development firm proxicom .
proxicom , according to fred stow , director of proxicom ' s energy practice , wants to enable energy companies to reduce operating costs , streamline enterprise processes , establish new revenue channels and manage regulatory compliance . the bulk of proxicom ' s energy practice exists in the u . s . , but the company provides services for some overseas clients , including ibedrola , one of spain ' s largest utility companies .
technologies of compaq and their partners ; to serve a broader set of customers on a global basis and to expand skill sets into new areas . q24 . will proxicom still trade on the nasdaq ? a . at the closing of the transaction ( expected in june ) , proxicom will no longer trade on the nasdaq . q25 . will proxicom still have a board of directors ? a . no , at the closing of the transaction ( expected in june ) , proxicom will no longer have a board of directors . q26 . when will i be considered an employee of compaq ? a . at the closing of the transaction ( expected in june ) , proxicom becomes a wholly owned subsidiary of compaq and proxicom employees will remain employees of proxicom , a compaq global services company . q27 . when will proxicom employees be transitioned to compaq compensation and benefits programs ? a . an hr transition team comprised of proxicom and compaq members will develop a plan to integrate proxicom employees into compaq compensation and benefits programs . the hr transition team will determine the timetable for enrolling proxicom employees into compaq benefits . the team will also determine an appropriate transition plan for moving proxicom employees onto compaq ' s compensation structure and programs . once the transition plan is completed , it will be communicated to all proxicom employees . q28 . will i get credit for my time of service at proxicom ? a . time of service will be credited where appropriate and accrued vacation will transfer to compaq as a starting balance . q29 . will my salary change as a result of this transaction ? a . employees will transfer at the same effective rate of salary or hourly wage , as applicable . q30 . how can i get more information on compaq ' s compensation and benefits offerings ? a . compaq has a compensation and benefits program that is competitive within the high technology and professional services industry . details of compaq ' s compensation and 5
before proxicom , mr . watson had never been overseas . he speaks no french , though with much of the technology world fluent in english , work has not been a problem . still , like proxicom , he is learning about the business world outside the united states .
at 1 p . m . pst , the close of regular market trading , proxicom shares were up $ 1 . 75 to $ 111 . 75 . the earnings report was issued after the close of regular trading . proxicom shares traded as high as $ 117 after hours .
in the end , proxicom played a lead role , building all of the back - end development and 80 % of mci ' s storefronts . the knowledge and experience gained in this challenge became invaluable intellectual capital in proxicom ' s own bank of ideas , solutions , and alliances .
both mr . rutt and mr . hansen fell under proxicom ' s spell last year while working on separate business deals in europe . bcg was advising a european firm when mr . hansen linked up with proxicom to help weave the internet into his client ' s strategy from the beginning .
that said volumes for us ,
mr . chilcott said .
and it seemed a conscious decision on proxicom ' s part .
proxicom today reported fourth - quarter earnings a penny above analysts ' estimates and said its board set a 2 - for - 1 stock split .
under the experienced hand of proxicom , energy companies are finding creative ways to use the internet to succeed in a marketplace being transformed by deregulation .
the company now defines itself as an e - business consulting and development firm providing services to seven industries , including energy . frederick stow , director of proxicom ' s energy practice , filled in details of the company ' s evolution and explained what distinguishes proxicom from the swelling field of competitors .
the expansion of proxicom overseas has generally been a boon to the company ' s employees , who number roughly 1 , 000 , 20 percent of them overseas . as is typical in the service sector , proxicom ' s operations in another country have not resulted in job cuts in the united states .
a . yes . in 1994 , proxicom helped mci build its web - based commercial venture , marketplace mci . the wide - ranging project had been allocated equally among the five firms involved , but proxicom ' s developers quickly stood out for their tenacity and willingness to take on the difficult tasks .
exton , pa .  ( october 28 , 2005 ) daou systems , inc . ( otcbb : daou ) today announced that it has completed the anticipated merger with and into prx acquisition sub , inc . a wholly - owned subsidiary of proxicom , inc . ( proxicom ) . proxicom is a portfolio company of the gores group , llc ( gores ) . the cash payable to the holders of daous common stock is approximately $ 0 . 384 .
coburn watson , a senior consultant in proxicom ' s paris office , moved overseas from san francisco for a six - month stint to work on a project with a major french automaker . and what proxicom is doing to itself , the company is doing to the 31 - year - old computer systems engineer .
the agency will retain the proxicom brand and the agency’s chief operating officer blue van dyke will stay on . its clients include chevron , dupont and toyota .
though it remains willing to absorb new people and ideas whatever their provenance , proxicom has sought to export key parts of its business model without giving in to local customs . but some customs close to proxicom executives ' hearts are proving a tough sell , including that staple of american technology companies , the stock option .
one of the basic value propositions of all proxicom ' s engagements is the effective transfer of knowledge to our clients . as trusted advisors , proxicom ' s energy practice consultants are constantly developing , refining and applying thought leadership positions that meld cutting edge e - business knowledge with industry - specific trends and application needs .
there is a domino effect from getting [ into new markets ] early and moving quickly ,
said ken tarpey , proxicom ' s chief financial officer .
both ventures hold the promise of benefits that proxicom could not have hoped for if it had started wholly owned subsidiaries in the two countries , company officials said . americans were able to leave reston and set up shop in new york and san francisco , but proxicom had to surrender a measure of independence to break into foreign markets .
aiming to escape the recent slump in the internet consulting sector , proxicom lands a multimillion - dollar contract to help redesign and redevelop the automaker ' s online marketplace .
these addresses are known to be associated with proxicom wireless , llc however they may be inactive or mailing addresses only . please verify address for mailing or other purposes .
internet marketer icrossing acquires va . firm from the arizona republic reports icrossing has purchased proxicom , a web development firm based in virginia after getting $ 62 million last week .
skittish investors see proxicom as a quality stock not just because it ' s profitable - - it reported net income of $ 2 . 7 million for the first quarter - - but also because it has a relatively low - risk clientele . only 6 percent of proxicom ' s customers were dot - com companies last quarter , cohen said .
as government regulations demand more open markets , the energy industry must adapt . proxicom played a role in enabling gas pipelines to bring their businesses online and in compliance with regulations such as ferc order 587 . kinder morgan energy inc . , formerly kn energy , represents an example of a company that sought proxicom ' s expertise for regulatory compliance .
and as a result of a merger , a major pipeline company needed a solution that would integrate its customer information systems across the merged companies . proxicom provided the expertise .
finally , we excel in our quality of delivery . proxicom consistently delivers its client - project commitments on time , within budget , with the highest emphasis on quality results .
fernandez and general atlantic partners - - two of proxicom ' s largest shareholders - - support the compaq acquisition and agreed to tender their offers as part of the transaction .
proxicom has the best international strategy in the e - services sector that we have seen , especially for its size ,
said andrew burns , an analyst with painewebber .
icrossing , the search marketing agency , has acquired us - based web development agency proxicom . it claims the deal makes it the largest independent digital marketing agency in the world .
a host of local political and technology figures invested in or were board members of proxicom , including leonsis and morino , and former new york representative and presidential candidate jack kemp .
proxicom entered joint ventures in both countries as a minority partner , with 20 percent of the new companies . in italy , it partnered with swedish telecommunications giant ericsson to create eunosia internet architects spa . in spain , proxicom ' s partner in the new kristina internet business solutions was the iberdrola group , a spanish conglomerate with extensive holdings in the energy sector .
compaq had offered to buy reston , va . - based proxicom for $ 5 . 75 per share in cash , a move the company said would expand its services to customers .
also , proxicom minimized changes to the back - end structure and data processing logic and leveraged data , information storage , business rules and processing logic currently implemented in an existing database .
as with our ge plastics relationship , proxicom always strives to build a trusted advisory role with our clients . a trusted advisor relationship not only allows proxicom ' s consultants to effectively deliver near - term projects , but also helps them anticipate future client needs , resulting in strategic opportunities to prepare longer - term business and e - business goals that meet those needs .
the founder and ceo of proxicom , mr . fernandez had already guided the company across the atlantic with subsidiaries in germany and britain , and joint ventures in italy and spain . but he needed executive muscle to lend depth and credibility to proxicom ' s overseas push , and his work began in earnest in business class on an evening flight from london to new york .
—virtually all energy industry companies have invested in the implementation of various erp systems over the past five years . proxicom can web - enable existing erp systems and integrate those new systems with existing systems . proxicom ' s focus on building complete , end - to - end solutions encompasses customer , partner and employee offerings and increases the rate of return on recent erp implementations .
giants like andersen consulting , with revenues from similar services of $ 1 . 9 billion , might still dwarf the reston upstart , but proxicom ' s nimble moves in europe have impressed investors .
, proxicom implemented the first secure , pure internet - based edi solution that enhances working relationships , improves order accuracy , boosts productivity and reduces costs , integrating it with sap r / 3 .
proxicom chief executive officer raul fernandez said the company is also building on its alliance with ericsson ' s consulting unit to sell wireless applications to corporate clients in the united states as well as europe .
i ' ve followed [ proxicom ] since my urltoken days , so when they became available i knew they were perfect for us to build out our web development capabilities ,
scales said .
the attraction of proxicom , mr . fernandez knew , was its rapid growth in the multibillion - dollar market for consultants who push the internet into every corner of a company ' s business . more than simply
going on line ,
companies like proxicom have shaken up the business models of big - name corporations , including general electric , american international group , merrill lynch and owens corning , among others .
clarity ibd ltd . , which had clients in most of the areas in which proxicom specializes , turned out to be the best candidate . but martin chilcott , the chairman of clarity and now a proxicom vice president , said he worried that the acquisition might turn out to be a blatant conquest by the americans , rather than an opportunity for clarity ' s employees to spread their wings within a global company .
clients like general electric have driven proxicom ' s expansion overseas . for example , proxicom revamped the web site of ge plastics to deliver information about its products and offer direct sales on line . a separate intranet system linked different sources of data to create an internal database . this ruthlessly streamlined sales process , a microcosm of the internet ' s impact on business around the world , helps cut costs throughout the company .
this organizational structure provides proxicom with precise knowledge , depth of experience and the ability to rapidly address our clients ' needs . proxicom ' s industry - focused organization is a key factor in helping our clients capitalize on the economic potential of the internet . it helps us provide strategic counsel to our clients on emerging industry and technology - specific trends that represent opportunities to develop decisive competitive - edge positions in their industry sector .
in the first two months of this year , proxicom lured heiner rutt and michael hansen , both germans , away from boston consulting group ( bcg ) with personal pitches from the ceo that began over the atlantic .
agency - proxicom , inc . art directors - alex costello and anyez chen creative director - eric wegerbauer designers - elios linos and anyez chen producer - dean sakihama programmers - brian shea , christy coy , sasha sklar
aiming to extract itself from the recent slump in the internet consulting sector , proxicom today said it has landed a multimillion - dollar contract from toyota to help redesign and redevelop the japanese automaker ' s online marketplace .
proxicom wireless , llc filed as a florida limited liability in the state of florida on wednesday , november 16 , 2011 and is approximately seven years old , according to public records filed with florida department of state .
but a higher bid of $ 7 . 50 per share was received by proxicom from south africa - based dimension data holdings plc on monday . compaq was then notified and given an opportunity to raise the stakes .
the transaction was approved by a majority of daous stockholders , confirmed today at the special meeting of stockholders held to consider and vote upon the merger with proxicom . the closing of the transaction took place immediately following the special stockholders ' meeting . daou and proxicom entered into a definitive merger agreement on august 10 , 2005 , and daou subsequently filed a definitive proxy statement on september 16 , 2005 with the securities and exchange commission .
winning an account with bmw financial services , the luxury automotive giant ' s financing arm , led proxicom to establish a wholly owned subsidiary in munich in november 1998 , staffed mainly , though not entirely , by americans .
q10 : will raul have a new role within compaq ? what about the other members of the senior management team ? a : the senior management team of proxicom , will continue to manage proxicom , a compaq global services company . raul will become vice president of proxicom reporting to jeff lynn . all other members of senior management will continue to lead proxicom , a compaq global services company . q11 . do you anticipate any impact on proxicom facilities ? a . both organizations have active facilities management plans . compaq is evaluating proxicom ' s facilities in a comprehensive manner and will be implementing a facilities plan after the merger is complete . q12 : what is compaq ' s overall acquisition strategy ? a : acquisitions are a key element of compaq ' s growth strategy for global services . compaq seeks opportunities that are synergistic to their current business , consistent with their long - term business strategy and that enhance their skill set and / or geographic coverage . q13 : is compaq planning any other acquisitions ? a : compaq will continue to aggressively evaluate acquisitions as a key element of their growth strategy . q14 : does this acquisition signal a change in the focus of compaq ' s services strategy ? what is compaq ' s services strategy at this time ? a : the acquisition strengthens compaq ' s services strategy to deliver innovative solutions to customers globally . compaq focuses on maximizing the benefits of integrating and managing new technology to accelerate their customers ' competitive edge . q15 : does this suggest a move to a market / industry focus for compaq global services ? a : the acquisition of proxicom provides compaq with the critical resources necessary to enhance and expand their reach into additional key vertical industry markets . q16 : is the proxicom acquisition only specific to professional services ? a . a key initiative in compaq ' s strategy is to grow the compaq global services business to be 30 % of the corporate revenues . proxicom is a professional services firm and therefore complements professional services , while strengthening compaq ' s overall 3
four months later , in january , mr . hansen , 39 , joined proxicom as its new vice president for international operations , but not before learning , to his astonish - ment , that mr . rutt would be his new boss . mr . rutt , 49 , another victim of trans - atlantic travel with mr . fernandez , left his post as head of bcg ' s americas division to become proxicom ' s president in february .
that proxicom ' s two new executives were not americans was icing on the cake for a company that needed to demonstrate its bona fides to the rest of the world . they also personified the transformation the company is undergoing .
you have to think of [ proxicom ] as an american - based company that wants to be global in nature ,
mr . tarpey said ,
not a u . s . company doing business abroad .
the move comes at a time when a number of proxicom ' s rivals , including viant , ixl enterprises and xpedior , have seen their stock plummet because of anticipated shortfalls in quarterly earnings and growing disinterest from the investor community .
proxicom enabled kinder morgan to have one of the first ferc 587 and gisb compliant systems . kinder morgan ' s business - to - business edi - enabled internet site integrates their four pipeline systems while running on a sybase database .
, an oil industry trading consortium , proxicom implemented a fully distributed trading and risk - management system for a major energy transporter , enabling accurate , real - time market valuation of the company ' s energy commodities and trade contracts .
all proxicom employees in the united states have stock options , and the company is essentially owned by its top people . mr . fernandez owns roughly 27 percent of its stock , and other executives and senior managers own another 41 percent .
overview proxicom is a leading provider of internet solutions to global 1000 companies and other large organizations . since 1994 , we have focused exclusively on the internet and have successfully completed over 600 client engagements . our internet solutions have included - business
two weeks after announcing that it would acquire e - business consulting firm proxicom inc . for $ 266 million , compaq computer corp . today announced that it won ' t match a higher offer made for the company by a competing bidder .
area venture capitalists said proxicom has been a ripe target since its share price dropped into the single digits , especially after it laid off nearly 20 percent of its workers , or 227 people , in march after its business began drying up .
in britain , putting europeans in senior executive positions greased the way for proxicom ' s first overseas expansion . the company established a london - based subsidiary in december , and began casting around for a company that would flesh out its operations there .
proxicom , which competes against a host of internet services and consulting firms , including scient , viant and ixl , attributed the better - than - expected results to an increase in new services contracts in the united states and continued expansion throughout europe .
mr . fernandez , keenly aware that proxicom ' s u . s . - based multi - national clients would demand attention overseas or seek other companies to integrate the inter - net into their businesses , reveled in the success of his double coup .
though proxicom was founded in 1991 , it took up the internet services challenge wholeheartedly in 1995 . the company then tele - scoped its america - only phase into a remarkably short period , even by the greased - lightning standards of the technology industry .
proxicom covets a top spot in the world market for integrating the internet especially wireless technologies into the daily grind of businesses in the united states and other countries . international data corporation conservatively estimates this pot of gold will reach $ 80 billion by 2003 .
for additional information about the types of services offered by proxicom , contact mara vannostrand , marketing director , 713 - 513 - 4804 , marav @ urltoken or fred stow , vice president of energy , 713 - 513 - 4883 , fstow @ urltoken .
proxicom inc . , the internet company founded by washington capitals partner raul fernandez that reaped the rewards of the technology boom and struggled to hang on after the bubble burst , was sold yesterday to compaq computer corp . for $ 336 million in cash .
a . there were really three primary challenges that we , like all small young firms , faced during our formative years . the success or failure of an organization is determined by the team of people that is formed as its nucleus . proxicom was able to quickly recruit and build a strong leadership team of experienced business professionals that possessed an entrepreneurial spirit and a people and customer focus . this team helped to recruit other high - energy employees and established the proxicom culture of learning , teaching and having fun .
a . because proxicom works almost exclusively with fortune 1000 companies , we understand the value of developing long - term and in - depth relationships with our clients . our five - year relationship with ge plastics is a good example of this type of commitment .
in britain , clarity was used to working in a market where wireless services , interactive television and the personal computer formed the backbone of its work . proxicom could feed this knowledge into other projects , but only if it wanted to , mr . chilcott said .
proxicom became one of the first of the new crop of high - tech businesses to court fortune 500 clients and the media alike . some of that buzz emanated from the personality of fernandez , who early on became a familiar presence at networking and philanthropic events .
ericsson ' s expertise in wireless internet services , the next frontier in telecommunications , should help proxicom integrate new technologies into the services it provides . the venture with iberdrola , which has 5 million customers in latin america , could lead to new opportunities in that region .
but proxicom will not have the luxury of waiting for other countries to improve the climate for options before setting up shop . the company ' s clients want services in these countries , whether or not the employees have the benefit of stock options , mr . tarpey conceded .
take a look at the list of local stocks with the highest price / earnings ratios . proxicom inc . and cysive inc . - - both reston - based
internet arms merchants
- - are still on the list with p / e ratios of around 66 .
with proxicom ' s help , kinder morgan lowered support costs by eliminating software distribution and maintenance to customers . kinder morgan also developed an online transaction processing system ( ordering , tracking ) including nominations , confirmations , scheduled quantities , storage allocations , allocation statements and imbalance statements .
more than doubling in size overnight , the search - centric icrossing has acquired web development agency proxicom for an undisclosed sum . growing from 200 to 550 employees , the merger is in line with icrossing ' s grand designs to become a top full - service digital agency .
services portfolio . compaq anticipates additional compaq hardware and software opportunities as a result of this acquisition . q17 : will proxicom remain
vendor agnostic
in regard to hardware when providing solutions to future customers ? a : while compaq has a brand preference for compaq , compaq global services recognizes the reality of multivendor environments and has a long track record of providing multivendor solutions to our clients . we do not expect this to change . q18 . how will this acquisition affect compaq ' s relationships with other systems integrators ? a . there should be little to no change in compaq ' s partnering efforts . q19 . how does this affect our customers ? a . the combination of the two companies should benefit proxicom ' s customers by allowing them to work with an expanded set of products and service offerings from compaq . the combination will also allow proxicom ' s customers to work with compaq on a global basis . q20 . how was the purchase price determined ? a . the purchase price was determined by the value that the company can generate for compaq and by working with various advisors . q21 . how will this acquisition affect the future growth of compaq hardware and services revenues ? will the acquisition contribute to the growth of revenues in other services areas , or was proxicom acquired solely for the revenue and profits that it could generate a subsidiary ? a . we expect the acquisition of proxicom to have a positive impact on compaq global services ' business as well as compaq ' s hardware and software business . q22 . do you anticipate similar deals to be announced by other industry competitors ? a . we are already seeing an increase in mergers and acquisitions , consolidations in the professional services business and expect it will likely continue for the next several quarters . q23 . what opportunities will the acquisition provide proxicom employees ? a . the integration of proxicom and compaq provides new and expanded opportunities to participate in training and career development ; to have access to the advanced 4
this year , proxicom will derive roughly 20 percent of its revenues from non - american operations , mr . tarpey said . within five years , he added , the company hopes to take 40 percent each from the united states and europe , with another 20 from asia . at that point , the location of proxicom ' s headquarters in the dulles corridor , if the fast - growing company is still there , will become incidental , an accident of history having more to do with the ceo ' s birthplace than the business he entered only 15 years earlier .
granting stock options to new employees is a
core belief
of proxicom , and the company intends to extend this practices to new ventures , mr . tarpey said . but outside the united states , tradition and taxation frequently combine to frustrate this increasingly ubiquitous feature of american capitalism .
—proxicom ' s approach to developing an e - business strategy enables a client to achieve and sustain overall business goals by looking at new business models , optimizing the supply chain , strengthening relationships with customers , partners and employees , and readying the organization to succeed in the new economy .
going back as recently as 1997 , proxicom had to build a lot of the functionality that today is taken for granted as a packaged option . we would perform build or buy analysis after defining the business and functional requirements and often , we couldn ' t find anything to buy .
this is the closing of one chapter and the beginning of a new and exciting chapter ,
said fernandez , who said he will continue to run proxicom as a compaq subsidiary .
i ' ve made a multi - year commitment to continue to run this practice .
proxicom is leading provider of internet solutions to global 1000 corporations . we provide strategy , technology and creative services for clients such as gm , ge , and merrill lynch . fundamentally we help them transform their business in order to take advantage of the internet as an offensive and defensive tool .
compaq intends to aggressively drive its strategy of expanding our services capabilities ,
said peter blackmore , executive vice president of worldwide sales and services , in the statement .
however , at this time , we don ' t feel current economics warrant increasing our bid for proxicom .
many of the dot - com millionaires of yesteryear have been brought back to earth , but fernandez joins a group of local technology executives who cashed out in time . he bought his share of the caps with part of the approximately $ 42 million in proceeds from an october , 1999 , sale of 800 , 000 shares of proxicom stock at $ 52 . 38 each , becoming a partner with his friend and mentor , ted leonsis , the former america online executive who himself profited from cashing in a piece of his stake in that company . leonsis is a member of the proxicom board .
companies such as proxicom that sell services that don ' t require hefty capital spending have an easier road to profitability than some other infrastructure companies , such as telecommunications carriers and internet service providers that must spend millions of dollars on network build - out before they can generate revenue , much less profits .
additionally today , proxicom said its board of directors approved a 2 - for - 1 split of its outstanding common stock to apply to shareholders as of the close of business on feb . 9 , 2000 . additional shares will be distributed to those shareholders on feb . 24 , the company said .
an april 27 front - page article about compaq computer corp . ' s acquisition of proxicom inc . incorrectly identified ted leonsis . he is america online inc . ' s vice chairman and chief product officer and president of aol ' s advanced services group . ( published 4 / 28 / 01 )
the clincher was the pair of germans that the u . s . - based company had installed at the top . mr . rutt and mr . hansen were human proof , mr . chilcott said , that proxicom would embrace colleagues who needed visas to work in the united states , even senior executives .
what effects will e - business have on organizational structure and culture ? will the industry ' s traditional structures and attitudes contribute to e - business success , or will they be an obstacle ? proxicom helps clients understand these implications and implement the right organizational strategies that fully leverage their e - business initiatives .
raul fernandez launched proxicom in 1991 with little more than a us $ 40 , 000 investment combined with technical expertise honed as director of emerging technologies at a maryland - based government contracting firm . the company was born as a systems integration firm but quickly tied all its fortunes to a rising star—the internet .
a decade ago , proxicom grew along the notion that the washington area could support a technology hub in its own right . it was
early to the party ,
in tech - speak . and its leader followed a familiar pattern , according to john tydings , president of the greater washington board of trade .
under the wing of a much larger powerhouse , many financial analysts say proxicom will thrive and compaq will broaden its business beyond computer sales , which have been flagging of late . witness ibm corp . ' s consulting arm , which reported $ 80 billion in backlog last week while its desktop computer business flagged , analysts said .
proxicom employs more than 1 , 200 consultants across the u . s . who use their skills in strategy , technology and creative design to build solutions for supply chain management , e - business , electronic - data interchange ( edi ) , collaborative computing , enterprise resource planning integration , customer service , community building and distance learning .
reston - based proxicom closed friday at $ 45 . 68 3 / 4 a share , more than doubling from its low of $ 21 . 50 on april 17 . though its share price remains down 24 percent year to date , the average stock in its sector is off 50 percent for the year , according to daren cohen , an equities analyst at friedman , billings , ramsey group inc . in arlington . proxicom , which provides internet consulting and builds web sites for large companies such as worldcom inc . , exxon mobil corp . and america online inc . , has been the beneficiary of the market ' s
flight to quality ,
he said .
—safety and environmental compliance remain big issues in the energy industry . significant time and cost savings can be realized if the information - gathering and forms - filing processes are taken online . wireless technology also speeds the process since most reporting and paperwork is done from the field or job site . proxicom currently helps clients bring these processes online .
compaq officials said they would continue to operate the business under the proxicom name and would keep its 1 , 000 employees and reston offices . the acquisition , however , represents the loss of another major technology company headquarters in the washington area - - one that has been at the nexus of the region ' s business and political worlds .
after the sale was announced , proxicom chief technology officer craig miller said he walked the firm ' s corridors at its headquarters at 11600 sunrise valley dr .
the mood was uniformly excellent ,
he said .
people are optimistic . it shows a vote of confidence . they think this is the opposite of a layoff .
proxicom , an e - business consulting and development firm based in reston , va , helps energy companies compete in a marketplace reshaped by mergers and acquisitions , merging marketplaces and the 1994 emergence of the internet as a business channel . these market forces require established companies to redefine themselves , while providing fertile soil for the growth of new energy companies .
that ' s high enough to be scary , but last spring their ratios were way up in the triple digits , close to where ciena is today . proxicom stock was $ 62 a share then ; today it ' s $ 11 . 94 . cysive was a $ 61 . 50 stock then ; today it ' s $ 7 . 25 .
much news about proxicom has focused on mr . fernandez , 33 , the native washingtonian done good as a pioneer in the world of digital - era services . sports fans know him as a part owner of the washington capitals . gossip hounds heard of his wedding bash in the four seasons hotel , where las vegas entertainer tony bennett sang for the guests .
reston , va . - based proxicom , which boasts big - name clients including america online , general electric , general motors and nbc , said demand remains strong across all of its industry practices . the 9 - year - old company provides professional services and development expertise targeting industries such as energy , telecommunications , financial services , retail , manufacturing and media .
. i ' m your host , shannon henry . my guest today is raul fernandez , one of the new guard of technology ceos in the washington area . fernandez runs proxicom , a company that builds web sites for large businesses . it went public in april and is housed in 11600 sunrise of reston , mario morino ' s high - tech hothouse .
having started down the path of going global , proxicom has little choice but to pursue the strategy to the far corners of the earth , its senior executives say . the logic of following global clients and tapping emerging markets is inexorable , admits mr . tarpey , who said the company hopes to break into the japanese market next year , and latin america soon thereafter .
as an example of our thought leadership position , look at an interview in the most recent issue of the oil and gas journal online urltoken in which dennis mcmullin , one of proxicom ' s energy practice consultants , talks about the impact of e - commerce and e - business on the energy industry ( click on the
energy trends
section above dennis ' picture ) .
web design firm proxicom inc . ; aether systems inc . , a developer of wireless data software and services ; webmethods inc . , which develops software that lets businesses exchange information with suppliers and customers across the internet ; and ciena corp . , a maker of fiber - optic networking equipment , have all seen their share prices bounce back from the sharp declines in april and may .
internosis , a privately held information technology consultancy and systems integrator , announced today the appointment of raul fernandez as its non - executive chairman . fernandez founded proxicom , inc . , which under his leadership evolved into a leading global provider of sophisticated e - business solutions for fortune 500 companies , went public in 1999 and was sold to dimension data ( lse : ddt ) in 2001 .
statements about the expected effects on proxicom and daou as a result of the acquisition of daou by proxicom , statements about the estimated cash amounts payable to the holders of daous common stock in the proposed transaction with proxicom , statements about the expected timing and scope of the proposed merger , and all other statements in this release other than historical facts are forward - looking statements . forward - looking statements include information about possible or assumed future financial results and usually contain words such as believes ,  intends ,  expects ,  anticipates ,  or similar expressions . these statements are subject to risks and uncertainties that may change at any time , and , therefore , actual results may differ materially from expected results due to a variety of factors , including but not limited to , the satisfaction of the conditions to closing of the acquisition , as well as the additional factors discussed in daous annual report on form 10 - k and 10 - k / a for the year ended december 31 , 2004 and daous quarterly report on form 10 - q / a for the quarter ended march 31 , 2005 and form 10 - q for the quarter ended june 30 , 2005 .
also , we excel in our thought leadership . since proxicom has been solely focused on e - business since 1994 , the company has completed over 1 , 000 client engagements . this experience means that we know what it takes for our clients to be successful in e - business . the solutions that we develop for our clients go far beyond the depth and breadth that our competitors provide .
—energy industry leaders must develop a mixture of online business relationships beyond online marketplaces . they must create information - rich , web - based links with key partners and direct sales at their websites . proxicom helps build enterprise portals that exploit the capabilities of e - business by streamlining and driving out costs of automated processes , while allowing a company to improve the quality of contact with customers and partners .
jeffrey herzog , founder and chief executive officer of icrossing , says : “icrossing’s dna is in search , which represents consumer interest and intent . proxicom’s dna is in driving superior brand and user experiences . together , we are poised to define the next generation of digital marketing by creating experiences – whether they are through the web , mobile or emerging channels - that are driven by the consumer perspective . ”
internosis is funded by general atlantic partners , a leading private equity investment firm , and will continue to seek the firm ' s strategic guidance as it grows both internally and through acquisitions . general atlantic partners has been integral to the success of local companies such as legent , proxicom , sra international and ztango as well as global companies including india - based patni and u . k . - based liberata .
last night , everything in the grill was on the house  free beer , free food and free cigars . the restaurant is
going to be a big draw ,
said raul fernandez , president of proxicom , an internet services company in reston .
we ' ll use it to entertain guests and business clients . capital centre was tough to get to and from . this is a breeze .
a . there are a couple of different terms that i would use to describe the leadership style at proxicom . whether it ' s called motivational , or leading by example , the real style is based on caring for our people and a commitment to success for our clients . no one is afraid to roll up their sleeves and dig in , regardless of what ' s required to make our projects successful .
his company , which went public in april 1999 , helps anchor northern virginia ' s technology corridor . but as proxicom expands its operations overseas , it is wrestling with a reality of globalization that generates as much anxiety as enthusiasm in the united states . that is , shedding an exclusively american identity is as crucial to a company ' s success as the quality of the goods or services it delivers to overseas clients .
second , we excel in our industry expertise . our industry specialists have decades of experience working in and consulting to the energy sector . strong upstream and downstream knowledge in oil and gas , along with unparalleled experience in electric power , natural gas and chemicals , means that proxicom understands their clients ' businesses . we are able to hit the ground running to give clients competitive advantage essential for competing in today ' s economy .
proxicom joins the ranks of local firms that are no longer locally controlled , such as dulles - based america online inc . , which merged with time warner inc . and now has a new york headquarters . long - distance carrier mci communications corp . was acquired by worldcom inc . , based in clinton , miss . , and herndon - based network solutions was folded into california - based verisign inc . last year .
company : proxicom , inc . , marina del rey , ca company description : an interactive agency specializing in delivering award - winning creative , advanced business strategies and complex software development across multiple industries . through online brand translation , custom web applications , and industry - specific solutions , we design usercentric experiences for organizations that immerse customers in their brands and drive them to action . nomination category : web sites nomination sub category : entertainment
proxicom ' s shares hit a high of $ 63 in jan . 2000 - - giving it a market value of $ 3 . 5 billion - - but the web design and consulting firm ' s stock plummeted along with the rest of the internet - related sector , falling as low as $ 1 . 81 on april 18 . the share price started rising after that and closed trading yesterday at $ 4 . 33 a share .
first of all , congratulations on all of your success . . . . wanna get married : - my question is two - fold . as someone who has much access to information , high powered ceo ' s , etc . ; what type of companies - technologies appear to be the next proxicom ' s , aol ' s , etc ? also , if you were an
average joe
, not already in your industry , what kind of online based service would you start ?
as part of the leadership team , it could mean participating in client workout sessions , providing one - on - one coaching for our client executives , or providing a little motivational support during a late evening or early morning for one of proxicom ' s project teams . employees will look to their leaders to see how they conduct themselves and to validate the commitment to their success . we all did that as we worked our way up the management chain and we make sure as managers that we ' re doing the right thing .
general atlantic partners sold about 1 million shares in the october , 1999 , offering . it still owns more than 3 . 4 million shares , most of which were purchased at prices ranging from $ 3 . 27 to $ 6 a share . while connecticut - based general atlantic will profit from some of these shares , it won ' t be the double - digit gains many venture capital companies became accustomed to in 1999 . ( the washington post co . , an early proxicom investor , sold its 60 , 000 shares in the 1999 offering . )
fernandez , 34 , recently made fortune magazine ' s list of the richest people under 40 . he has an estimated net worth of $ 287 million . he ' s a former capitol hill staffer and is a ubiquitous presence at business networking and , lately , charity events . send in your questions about the local tech scene , the going public process and offering stock options to your employees ( every proxicom employee is offered them ) . we will discuss his company and business - to - consumer electronic commerce internet sites , business - to - business electronic commerce extranets and company - specific intranets .