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EXHIBIT 99.1
Press Release
For Immediate Release
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Dan Toporek Julie Myers
Senior Manager, Public Relations Investor Relations
650-752-1627 650-470-4217
[email protected] [email protected]
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GETTHERE ACQUIRES ALLMEETINGS CORPORATION
GETTHERE EXPANDS ONLINE TRAVEL PROCUREMENT PLATFORM TO SERVE $120 BILLION
MEETINGS MARKET
MENLO PARK, Calif., July 19, 2000 - GetThere Inc. (NASDAQ: GTHR), today
announced it has agreed to acquire AllMeetings Corporation of Las Vegas, Nevada
for approximately $25 million in cash and stock. The acquisition will allow
GetThere to deliver the first integrated online corporate travel and meeting
management system. GetThere, which currently provides the industry's leading
system for corporate intranet travel procurement, is expanding its platform to
serve meeting planners who spend more than $120 billion a year on events and
meetings. The integration also serves to increase the adoption of GetThere's
online travel procurement system for all aspects of corporate travel.
For many corporations, meetings are one of the most difficult expenses to
track and manage. Integrating AllMeetings' solution with GetThere's travel
procurement system creates the first integrated offering to address sourcing,
registration, travel booking and reporting. It will give meeting participants
the ability to book flights, hotels and other elements of a business meeting
trip through a single location on their corporate intranet, while taking
advantage of contracted rates. It will allow meeting planners to arrange events
online, with the ability to capture pertinent information on expected and actual
costs automatically, a process that currently requires manually gathering
attendees' information.
"The integration of AllMeetings' solution provides a significant new
capability to GetThere's large and growing base of corporate travel procurement
customers," said Gadi Maier, president and CEO of GetThere Inc. "This also
provides a new revenue opportunity for GetThere by creating a convenient
alternative to handle meeting transactions online."
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"There have been some companies teaming to provide meeting management with
travel booking systems. This is the first truly integrated solution," said
Glenn Bingham, President at AllMeetings. "Corporations can now have a single
supplier, to service, track and coordinate all their travel and meeting needs."
GetThere's new integrated meeting strategy is a natural extension to the
GetThere Supplier Network that the company announced this summer. The Supplier
Network includes leading airline, car rental and lodging companies that are
signed up to directly connect with corporate buyers that book travel online in
the GetThere Marketplace. Lodging companies in the GetThere Supplier Network
gain additional opportunities to work directly with corporate buyers for online
meeting planning. AllMeetings also has lodging relationships that could expand
the GetThere Supplier Network.
The GetThere Marketplace
The GetThere Marketplace is the largest B2B Internet travel marketplace
that connects major buyers of corporate travel services with the world's leading
airline, hotel, rail and car rental suppliers. By putting these two groups
together in one unified community on the Web, buyers can streamline travel
procurement, and sellers can significantly reduce their travel distribution
costs. The GetThere Marketplace provides online travel booking for a
corporation's employees, while improving efficiency in the buying process and
incorporating advanced e-commerce capabilities. It also provides value-added
services for the traveler, such as wireless access, online ground transportation
and restaurant reservations.
AllMeetings will remain in Las Vegas as a division of GetThere, run by
its existing management and employees. Combined GetThere and AllMeetings
solutions will be available to customers immediately, with integration happening
over the next year.
About All Meetings
AllMeetings was founded in 1997. AllMeetings.com offers savings in both
time and money by streamlining the meeting planning process. Users can search
thousands of properties to receive hotel information, send electronic RFPs, and
obtain results ranked by an overall meeting budget, including both the cost of
the meeting and associated travel. This search provides unbiased results based
on costs, and then assists users in making a decision.
In addition to the AllMeetings.com site, AllMeetings also provides meeting
planning capabilities that run on the corporate intranets of Fortune 1000
corporations. These tools help companies gain control over
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their travel and meeting planning budgets by integrating pre-negotiated rates
and vendors into the planning process. The intuitive system has simple
interfaces to expedite learning and productivity so that even the most
inexperienced administrative person can easily plan a meeting. The corporate
intranets include e-mail reminders, lists of all internal planners and a
calendar to create the most powerful meeting planning tool available online
today.
About GetThere
GetThere (Nasdaq: GTHR) operates the world's largest Internet marketplace
focused on business-to-business travel services. GetThere's systems are used to
provide online travel procurement to employees at leading corporations such as
Boeing, Chevron, Cisco, Cox Communications, Lucent, MetLife, Nike and Xerox.
GetThere also powers online travel sites for leading airlines, including
Alitalia, All Nippon Airways, America West, British Airways, Northwest Airlines,
TWA and United Airlines. GetThere can be found on the Web at www.getthere.com.
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GetThere, the GetThere logo, The GetThere Marketplace, and The GetThere Supplier
Network are trademarks of GetThere Inc.
Information in this press release that involve GetThere's expectations, beliefs,
hopes, plans, intentions, strategies or the company's future financial
performance including the potential benefits of the company's acquisition of
AllMeetings are forward-looking statements that involve risks and uncertainties.
All such forward-looking statements are based upon information available to
GetThere as of the date of the release, and GetThere assumes no obligation to
update these statements. These statements are not guarantees of future
performance, and actual results could differ materially from current
expectations. Factors that could cause actual results to differ materially from
those in the forward-looking statements include the possibility that the
integrated offering will not meet with anticipated customer acceptance or yield
the anticipated financial results. Other factors are described in GetThere's
reports and documents filed from time to time with the Securities and Exchange
Commission, including GetThere's Form 10-Q filed on June 13, 2000.
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