VerticalNet Completes Acquisitions of Two New Vertical e-Communities;
Gains Leaders in the Textiles and Apparel Industry Plus the Public Sector
Marketplace
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HORSHAM, Pa.--(BUSINESS WIRE)--Jan. 10, 2000--VerticalNet Inc.,
(NASDAQ:VERT) the Internet's leading portfolio of
business-to-business trading communities, announced today that it has
completed the acquisitions of TextileWeb, Greensboro, NC, the textile
industry's leading online vertical community; and GovCon.com,
Rockville, MD, the leading online community for bidders on federal
government contracts.
The acquisitions closed December 30, 1999.
TextileWeb, along with the content of two related sites, Online
Textile News and TextileShow, will form the nucleus for VerticalNet's
new Textiles and Apparel Industry Group, serving the $70 billion
textile and apparel industry. The TextileWeb properties, which include
a buyer's guide and marketplace, news, and a virtual trade show,
currently generate significant page views.
GovCon and its sister site BidRadar, serve over 100,000
registered users in the government contracting arena and have a robust
industry-specific registered user base servicing small and mid-size
businesses in that market. GovCon will form the nucleus for
VerticalNet's new Public Sector Industry Group, a market worth more
than $500 billion.
The companies have established customer bases and several revenue
streams including advertising, sponsorships and e-commerce.
"These acquisitions bring our total number of communities to 55
and add important new industry sectors of textiles and public sector
markets to our portfolio," said Mark Walsh, President and CEO of
VerticalNet(R). "With the acquisition of these leading companies, we
jumpstart our entry into new sectors while continuing to extend our
advantage as the Internet's leading portfolio of business-to-business
trading communities."
VerticalNet announced that Paul Risen and Rick Reddel, the
principals of TextileWeb, will join VerticalNet as Co-Industry
Managers. David Coakley, President of GovCon, joins VerticalNet as
Industry Manager.
About VerticalNet
VerticalNet, Inc. (www.verticalnet.com), owns and operates 55
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 industry 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; PUBLIC SECTOR: GovCon.com;
SERVICE: HR Hub.com, Property and Casualty.com; TEXTILES AND APPAREL:
TextileWeb.com; OTHER: Oil Link.com, LabX.com, Industry Deals.com, IT
CareerHub.com, Professional Store.com.
This announcement contains forward-looking statements that
involve risks and uncertainties, including 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 those factors 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.
CONTACT: VerticalNet, Inc., Horsham
Muriel Lange, Director of Investor Relations
215/315-3367 |
