Barter Business Network Sdn Bhd (BBN), the local premier commercial barter trade exchange which set up its operation in February 1999, has agreed to acquire a substantial stake in Korea Barter Exchange(KBX), a leading barter in South Korea.

According to BBN, an agreement on the matter was signed in Kuala Lumpur recently.

BBN said in a statement yesterday that included in the agreement was a sale to KBX of the BBN proprietary barter exchange administrative software with its e-commerce platform www.asiaBarter.com.

The purchase of the software is significant to KBX as it will help the company to rapidly expand its business network and membership base with little support of a powerful web-based administrative software.

According to BBN, the major significance is that with both exchanges employing the same e-commerce platform and administrative software, members from both exchanges will eventually be able to trade freely among themselves.

The BBN said that its proprietary web-based barter exchange administrative software and its e-commerce platform were fast gaining recognition among the world's barter exchanges - as among the best in the industry and definitely the only one in Asia. -Bernama  

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