Business model is very important for company sustainability. Dynamic business environment and limited resources increased the problems faced by manufacturing industry, such as meeting global quality standard for its product, production quotas that can not depend on order prediction, increase in business rivalry and company expenditure, demand for less complex organizational model (not hierarchical and not bureaucratic), and demand for more streamlined product delivery towards consumer. In the era of Information and Communications Technology (ICT), easy, quick, and affordable internet access is pushing towards an increase in cooperation between companies, resulting in closer relationship between companies and making internal and external company business control possible. This means that correct company business model in information era is needed for ensuring the company sustainability. This research is conducted in order to analyze a business model that may be implemented by manufacturing company in information era. This research is conducted by defining and identifying existing business model along with its development, showing Extended Enterprise as proper business model in the information era and determining the characteristics of Extended Enterprise. This research is conducted by using literature study method and is based on theory from Lynda M. Applegate (2009) and frame of thought from Davis & Spekman (2003) regarding Extended Enterprise. The result of this research is the characteristics of Extended Enterprise for manufacturing industry. Generally, Extended Enterprise characteristic encompasses value creation through development of partnership network and keeping individual company agile/flexible in maintaining company volume. In detail, this research procured 39 mapped characteristics from 14 business factors and from preceding literature/research.