VERT----> Announces Plans for Joint Venture With Softbank Commerce Corp.
Business & High Tech Editors
HORSHAM, Pa.--(BUSINESS WIRE)--Jan. 17, 2000--
VerticalNet Japan To Extend Business-to-Business Reach in Asia
VerticalNet, Inc. (NASDAQ: VERT), the Internet's leading
portfolio of business-to-business communities of commerce, announced
that in Tokyo, Japan today, Softbank Commerce Corp., a wholly owned
subsidiary of Softbank Corporation (Tokyo Stock Exchange 9984)
announced plans for a Japanese joint venture between the two
companies. The companies' plan is to launch B2B vertical communities
in Japan.
The new company - VerticalNet Japan Kabushiki Kaisha - would
create a localized version of VerticalNet(R) trading communities for
Japan's business-to-business Internet audience. The new services are
expected to launch later in 2000. The Japanese version of VerticalNet
is scheduled to offer many of the same features as the U.S. version
with localized editorial content and community services to meet the
needs of Japanese businesses.
"VerticalNet represents the best of what business-to-business
means to the Internet," said Masayoshi Son, President and Chief
Executive Officer of Softbank. "Our partnership will accelerate the
Internet's impact on how Asian businesses conduct transactions and
expand markets in Japan."
"I personally have been a fan of Softbank and their impact on the
global growth of the Internet for many years," said Mark Walsh,
VerticalNet President and Chief Executive Officer.
" Announcing this initiative with Softbank is a big day for our
company. They are a premier partner for our efforts to grow Internet
business-to-business initiatives throughout Japan."
About SOFTBANK CORP.
(Tokyo Stock Exchange: 9984) has emerged as one of the world's
leading Internet market forces. Through its ownership positions in
more than 120 Internet companies and its unique Internet-zaibatsu
management concept, it is able to create market synergies for its
family of companies on a global scale. In Japan its activities
encompass distribution, publishing, Internet media platforms, a broad
range of e-commerce businesses, and joint ventures with companies
including Microsoft, Cisco, Yahoo!, Nasdaq, and many other market
leaders. In the U.S., SOFTBANK is the largest shareholder in leading
Internet companies including Yahoo!, E*TRADE and ZDNet, and in Europe
has established Internet joint ventures with News Corp. and Vivendi.
About VerticalNet, Inc.
----------------------
VerticalNet, Inc. (www.verticalnet.com) (the "Company"), 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; 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 those relating to the
formation and implementation of the joint venture and information
contained elsewhere in this document where statements are preceded by,
followed by or include the words "believes," "plans," "intends,"
"expects," "anticipates," "would," 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. The potential risks
and uncertainties that could cause actual results to differ from those
included in the forward-looking statements include, among others
(i)dependence on joint venture partners; (ii)rapid technological and
market change; (iii)Japanese government regulations relating to the
Internet and other aspects of the joint venture; (iv)fluctuations in
currency exchange rates; (v)cultural differences; (vi)the ability to
create the Japanese joint venture on terms that are acceptable to the
Company; (vii)finding and retaining key personnel and; (viii)
intellectual property and licensing issues. Additional factors that
could cause actual results to differ from those contained in the
forward-looking statements include those set forth in the Company's
Annual Report on Form 10-K for the period ending 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.
All trademarks are the property of their respective owners.
--30--ah/cl/ny*
CONTACT: PepperCom for VerticalNet
Frances Lucivero, 212/931-6129
fluciver@peppercom.com
or
Softbank Corp.
Misao Konishi, 03-5642-8013
mkonishi@softbank.co.jp
KEYWORD: PENNSLYVANIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE INTERNET
BANKING MARKETING AGREEMENTS
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