Need2Buy.com in Westlake Village, a business-to-business online marketplace for buyers and sellers of electronic components, has entered into a joint venture with Mitsubishi Corp. to develop an e-commerce site for the fast-growing electronic components market in Asia.
The new venture, Need2Buy-Asia, is aimed at buyers, distributors and component manufacturers in the Far East.
Need2Buy will have a 60% stake in the joint venture, while Mitsubishi will invest the remaining 40%. The site is expected to be launched during the third quarter.
