VerticalNet, Inc. (Nasdaq: VERT - news), the Internet's leading network of business-to-business trading communities, today announced completion of VerticalNet Europe, B.V., a joint venture with global communications company British Telecommunications, plc (``BT'') (NYSE: BTY - news) and B2B e-commerce leader Internet Capital Group (Nasdaq: ICGE - news). VerticalNet, Inc. is the majority shareholder in the joint venture.
``With VerticalNet Europe we are entering the Internet's next hypergrowth market from a position of strength, with substantial existing international traffic and premier partners. Partnering with BT and Internet Capital will allow us to exploit this opportunity very rapidly,'' said Mark Walsh, President and CEO of VerticalNet.
BT's considerable presence, reach and alliances within Europe, along with Internet Capital Group's network of partner companies and industry expertise, form a solid combination with VerticalNet's know-how and leadership position in business-to-business trading communities,`` added Walsh. |
