VERT, $36 was a nice price, read this
Will be an excellent trader tomorrrow, moon shot IMHO. You know how i like B2B. ICGE will also follow suit.
VerticalNet and IBM Team to Create a Comprehensive, New
E-Business Initiative
Business Wire - October 21, 1999 18:34
HORSHAM, Pa. and WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Oct 21,1999--VerticalNet, Inc.
(Nasdaq:VERT), the Internet's premier owner and operator of online business-to-business vertical
trade communities, and IBM announced today that they have entered into an e-business initiative to
deliver e-commerce solutions to IBM customers and enhanced technology to VerticalNet(R).
This agreement marks the first time these companies have combined to offer such a broad provision of
products and services to customers across so many vertical marketplaces in the business-to-business
space.
Under the terms of the agreement, VerticalNet will promote IBM's products and services across
approximately 50 vertical communities. In addition, IBM will work with its customers to create
e-commerce solutions using IBM's Net.commerce software and integrate those solutions into
VerticalNet communities by providing those customers co-branded VerticalNet storefronts. This
commitment from IBM will include an initial purchase of 375 storefronts over the next twelve
months that will link IBM Net.Commerce customers to VerticalNet's portfolio of vertical communities.
VerticalNet's trade communities provide users with comprehensive sources of information,
interaction and e-commerce. These industry specific sites -- such as ComputerOEM Online
(www.computeroemonline.com), Plant Automation.com (www.plantautomation.com) and
Semiconductor Online (www.semiconductoronline.com) --comprise 10 industry groups, including
Advanced Technologies, Communications, Environmental, Food Service/Hospitality, Food and
Packaging, Healthcare, Manufacturing and Metals, Process, Sciences, and Services.
VerticalNet and IBM have committed to integrate IBM's online industrial community,
wholesaledistribution.com, into VerticalNet's portfolio. VerticalNet has also agreed to use IBM servers
and hosting services for its web platform, enhancing its around-the-clock commitment to buyers and
sellers.
"This relationship brings together two industry leaders," said Mark Walsh, president and CEO of
VerticalNet. "IBM's new relationship with VerticalNet underscores our leadership position in
developing online business-to-business communities of e-commerce. By leveraging both our customer
bases as well as our content and technical resources, we believe we will create a superior experience
for our users and accelerate the adoption of the Internet in the B2B marketplace."
"After evaluating all of our options, we have chosen IBM as our partner to enhance and ensure the
global 24x7 character of our business. This will be increasingly important as we continue to grow the
number of vertical communities and serve larger audiences," Walsh added.
"VerticalNet has demonstrated its ability to create customized communities where both buyers and
sellers feel at home," said James Corgel, general manager of Global Internet Service Provider
Industry, IBM. "By working with VerticalNet, IBM can give its customers the opportunity to
participate in business-to-business e-commerce in targeted vertical communities and, thus begin to
establish new distribution channels for the future."
About IBM
IBM is a world leader in providing business solutions for small and medium businesses. Through its
Global Small and Medium Business organization, IBM offers a host of cross-industry and
industry-specific solutions designed to meet the needs of growing businesses. IBM also is the leading
provider of electronic business solutions and is dedicated to helping customers, business partners and
developers leverage the potential of the Internet and network computing across a wide range of
businesses and industries through solutions and financing. For further information visit
www.ibm.com/smallbusiness.
About VerticalNet
VerticalNet, Inc. (www.verticalnet.com), owns and operates 51 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,
ComputerOEM Online, Embedded Technology.com, Medical Design Online, Plant Automation.com,
Test and Measurement.com; COMMUNICATIONS: Digital Broadcasting.com, EC Online, Fiber Optics
Online, Photonics Online, Premises Networks.com, RF Globalnet, Wireless Design Online;
ENVIRONMENTAL: ElectricNet, Pollution Online, Power Online, PublicWorks Online, Pulp and Paper
Online, Safety Online, Solid Waste Online, 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/ HOSPITALITY: E-hospitality.com, Foodservice
Central.com; HEALTHCARE: E-Dental.com, Hospital Network.com, Long Term Care Provider.com,
Nurses.com; MANUFACTURING AND METALS: Machine Tools Online, Metrology World.com, Surface
Finishing.com, Tooling Online; PROCESS: Adhesives and Sealants.com, Chemical Online,
Hydrocarbon Online, Paint and Coatings.com, Pharmaceutical Online, Semiconductor Online, Oil
and Gas Online; SCIENCE: Bioresearch Online, Drug Discovery Online, Laboratory Network.com;
SERVICE: HR Hub.com, Property and Casualty.com.
This release contains forward-looking statements that involve risks and uncertainties, including
information relating to the expected benefits of the relationship, VerticalNet's planned upgrade of
systems, as well as other information contained in this document where statements are preceded by,
followed by or include the words "believes," "plans," "intends," "expects," "anticipates" or similar
expressions. For such statements, VerticalNet 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
an indication of future performance. Factors that could cause actual results to differ from those
contained in the forward-looking statements include a risk that VerticalNet would decide not to
upgrade its systems for financial, technological or other reasons, as well as those factors set forth in
VerticalNet's filings with the Securities and Exchange Commission, including its report on Form 10-K
for the year ended December 31, 1998 and its report on Form 10-Q for the quarter ended June 30,
1999.
VerticalNet is the registered trademark of VerticalNet, Inc. All other names are trademarks and/or
registered trademarks of their respective owners. |
