SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : VerticalNet, Inc. [VERT]
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Susan G who wrote (951)8/28/2000 11:06:21 AM
From: Sarkie  Read Replies (1) of 1094
 
VerticalNet Purchased BidLine Assets For $5.3M In June
================================================================
WASHINGTON -(Dow Jones)- VerticalNet Inc. (VERT) acquired certain
assets of BidLine.com on June 30 for roughly $600,000 in cash and
128,540 shares of its common stock valued at $4.7 million, the company
reported in its most recent Form 10-Q filed with the Securities and
Exchange Commission.
VerticalNet purchased all of the outstanding stock of Bidformation
Canada Inc. and acquired certain assets of Demand Systems LC. Both are
units of BidLine.
The acquisition was accounted for as a purchase. VerticalNet recorded
as goodwill the estimated excess of the $5.3 million over the fair value
of the tangible net assets acquired and is amortizing it over 36 months,
according to the filing from Aug. 14.
The results of operations from BidLine are not material to
VerticalNet's consolidated financial position or results of operations.
BidLine is an online source for companies seeking state and local
government contract bidding opportunities.
VerticalNet, based in Horsham, Pa., owns and operates 57 Web sites
designed as online business-to-business communities.
- Chad Clinton; Dow Jones Newswires/Federal Filings Business News;
202-628-9798
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2000 Dow Jones & Company, Inc.
All Rights Reserved
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News