To: nokomis who wrote (69441 ) 11/3/1999 11:46:00 AM From: bobby is sleepless in seattle Read Replies (2) | Respond to of 120523
VERT...PPRO... this broken record plays again.... VerticalNet to Implement PurchasePro.com Purchasing System Across Multiple Verticals LAS VEGAS--(BUSINESS WIRE)--Nov. 3, 1999--VerticalNet, Inc. (Nasdaq:VERT - news), the Internet's premier portfolio of online business-to-business vertical trade communities, and PurchasePro.com, Inc. (Nasdaq:PPRO - news), a leading provider of business-to-business e-commerce solutions, today announced an agreement to implement the Web-enabled version of PurchasePro.com's purchasing system in VerticalNet's communities of FoodServiceCentral.com and the recently launched E-Hospitality.com. Under the terms of this revenue-sharing agreement, VerticalNet® has licensed the full suite of PurchasePro.com's e-commerce tools that include buying, selling, bidding and reporting technologies that are designed to improve the purchasing process and reduce procurement costs for VerticalNet's customers. Also, VerticalNet communities will gain access to PurchasePro.com's public marketplace consisting of thousands of buyers and suppliers. ''In the interest of bringing the best e-commerce solution to members of our verticals, we have selected PurchasePro.com,'' said Mike Hagan, executive vice president and co-founder of VerticalNet. ''We are excited to make PurchasePro.com's powerful capacities available to our users, expanding e-commerce capabilities and potential for both VerticalNet communities and PurchasePro.com.'' ''We have developed a web-based, value-added solution that is easily adapted to many markets,'' said Charles Johnson Jr., PurchasePro.com's chairman and CEO. ''Our e-commerce technology is a perfect complement to VerticalNet's expertise in creating vertical trade communities and will enable thousands of businesses to turbo-charge their e-commerce initiatives.'' 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.