VERT...
well, don't know how long this run will continue, but with the projections of b2b to exceed the trillions, vert stands a very good chance of benefiting from this explosive and exciting growth...market willing, look for vert to continue its trend...my position trade continues from 33 5/8 and not looking to sell....yet....yippeeee!
VerticalNet and SAIC Announce Joint Development
and Marketing Initiative To Extend ANX As Largest
Worldwide B2B Network Supporting the Automotive
Industry
HORSHAM, Pa., and SOUTHFIELD, Mich.--(BUSINESS WIRE)-- Dec. 9, 1999--
VerticalNet To Offer Content, Community and Supplier Tools To Industry
Endorsed and Supported Automotive Network eXchange (ANX)
VerticalNet, Inc. (Nasdaq: VERT - news), the Internet's premier portfolio of business-to-business vertical trading communities
and First Mover in the space (www.verticalnet.com), and Science Applications International Corporation (SAIC), the United
States' largest employee-owned research and engineering firm, and owner of Automotive Network eXchange® (ANX®)
(www.anxo.com), today announced their plan to create a joint development and marketing initiative to extend ANX network's
services to a wider range of industry suppliers and introduce new value-added services to support subscribers and the
communities both companies serve.
This initiative will build off the automotive industry's leading edge supply chain management initiatives to provide critical mass
and liquidity to a geographically diverse marketplace.
The ANX network was developed by the automobile industry and was recently purchased by SAIC from Automotive Industry
Action Group (AIAG).
In its December 7th, 1999 announcement, SAIC stated that currently DaimlerChrysler Corp., Ford Motor Co., and General
Motors Corp., and more than 250 trading partners are connected to the ANX network with another 200 trading partners in the
process of being connected.
The new expanded ANX will provide a safe, robust and neutral trading environment in which to communicate, negotiate and
facilitate supplier relationships.
''We believe this is a groundbreaking initiative and one that will accelerate e-commerce within the automotive industry as well
as related markets,'' said Mark Walsh, CEO of VerticalNet. ''Through this alliance, we believe VerticalNet and SAIC's ANX
network will provide suppliers with a new way to participate in the Internet economy and empower them to reach new markets
and customers, providing the liquidity that buyers demand while executing open market sourcing or spot purchasing. Leveraging
ANX's powerful tool set is a great example of how VerticalNet is working toward using partners' expertise in the technology
frontier.''
VerticalNet plans to provide the ANX network with content and community tools that are designed to add value to both the
buyer and supplier. In addition, VerticalNet, in conjunction with SAIC and its ANX service provider partners, intends to
extend the network features and promote access via VerticalNet communities, thus enabling ease of access and wider industry
adoption.
It is anticipated that this public Internet presence will initially center around VerticalNet's automotive community,
AutoCentral.com (www.autocentral.com). SAIC and VerticalNet also may connect other appropriate VerticalNet communities
to the ANX network.
VerticalNet will offer a free listing within the Buyers' Guide of AutoCentral.com for all ANX members. SAIC will highlight and
promote VerticalNet properties within the ANX network and will offer all current ANX suppliers a special promotional
opportunity on VerticalNet.
In addition, SAIC will give all current and some future VerticalNet customers a listing in the ANX directory and VerticalNet
will promote a special package of services to ANX customers.
''SAIC assumed operation of the ANX network in order to improve its capabilities, provide subscribers with value-added
services, add trading partners and certified service providers (CSPs), and provide for a seamless managed evolution of the
ANX business,'' said Tracy Trent, SAIC senior vice president for e-business solutions. ''With VerticalNet's involvement, we
can facilitate ANX's evolution faster and more efficiently.''
VerticalNet and SAIC intend to expand the network's capabilities to provide an e-business infrastructure solution offering a
wide range of communications, application integration, and information services. The ANX network is envisioned to provide
seamless access to application solutions from the Original Equipment Manufacturers and other trading partners.
In the coming months, new features will be added to the ANX utility to support broader industry utilization through IP
telephony and videoconferencing which will support advanced supply chain and collaborative application solutions.
About VerticalNet, Inc.
VerticalNet, Inc. (www.verticalnet.com), owns and operates 53 industry-specific Web sites designed as online
business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with
comprehensive sources of information, interaction and e-commerce.
They are grouped into 10 sectors: ADVANCED TECHNOLOGIES: Aerospace Online, Auto Central.com, Computer OEM
Online, Embedded Technology.com, Plant Automation.com, Semiconductor Online, Test and Measurement.com;
COMMUNICATIONS: Digital Broadcasting.com, EC Online, Fiber Optics Online, Photonics Online, Premises
Networks.com, RF Globalnet, Wireless Design Online, Wireless Networks Online; ENVIRONMENTAL: ElectricNet,
Pollution Online, Power Online, PublicWorks.com, Pulp and Paper Online, Solid Waste.com, Water Online; FOOD AND
PACKAGING: Bakery Online, Beverage Online, Dairy Network.com, Food Ingredients Online, Food Online, Meat and
Poultry Online, Packaging Network.com; FOODSERVICE AND HOSPITALITY: E-Hospitality.com, Foodservice
Central.com; HEALTHCARE/SCIENCE: Bioresearch Online, Drug Discovery Online, E-Dental.com, Home Health
Provider.com, Hospital Network.com, Laboratory Network.com, Long Term Care Provider.com, Medical Design Online,
Nurses.com; MANUFACTURING AND METALS: Machine Tools Online, Metrology World.com, Safety Online, Surface
Finishing.com, Tooling Online; PROCESS: Adhesives and Sealants.com, Chemical Online, Hydrocarbon Online, Oil and Gas
Online, Paint and Coatings.com, Pharmaceutical Online; SERVICE: HR Hub.com, Property and Casualty.com, Purchasing
Network.com; OTHER: Oil Link.com, LabX.com, Industry Deals.com, IT CareerHub.com, Professional Store.com
About SAIC
SAIC is the nation's largest employee-owned research and engineering company, providing information technology and systems
integration products and services to government and commercial customers.
SAIC scientists and engineers work to solve complex technical problems in telecommunications, national security, health care,
transportation, energy, the environment, and financial services. With annual revenues of $4.7 billion, SAIC and its subsidiaries,
including Telcordia Technologies (formerly Bellcore), have more than 38,000 employees at offices in more than 150 cities
worldwide.
More information about SAIC can be found on the Internet at www.saic.com.
This announcement contains forward looking statements that involve risks and uncertainties, including (i) statements relating to
the parties' plan to create a joint development and marketing initiative as well as the benefits expected from such initiative, (ii)
relating to the results expected to derive from the initiative, (iii) about the services and products that the parties plan to provide
as a result of the relationship, (iv) regarding the expectation that the Internet presence will initially center around VerticalNet's
automotive community, as well as (v) statements that are preceded by, followed by or include the words ''believes,'' ''plans,''
''intends,'' ''expects,'' ''anticipates,'' or similar expressions.
For such statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported
results should not be considered as an indication of future performance.
Factors that could cause actual results to differ from those contained in the forward-looking statements include the ability of
VerticalNet and SAIC to implement the initiatives contemplated under the terms of their alliance as well as those set forth in the
Company's Annual Report on Form 10-K for the period ended December 31, 1998 and the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 1999, both of which have been filed with the SEC.
VerticalNet is the registered trademark of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of
their respective owners. |
