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Technology Stocks : VerticalNet, Inc. [VERT] -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (954)	8/28/2000 2:54:00 PM
From: Sarkie	Read Replies (1) \| Respond to of 1094

VerticalNet Paid $1.5 Million For 40% Stake In Softbank Venture ================================================================ WASHINGTON -(Dow Jones)- VerticalNet Inc. (VERT) paid $1.5 million in July for a 40% ownership stake in a joint venture with Softbank Corp.'s (J.SFT) Softbank E-Commerce Corp., the company reported in its most recent Form 10-Q filed with the Securities and Exchange Commission. The goal of the new company, called VerticalNet KK, is to develop, maintain and operate Japanese-language vertical trade communities in Japan. A press release from July 23 announced the closing of the deal, but didn't include financial details. VerticalNet, based in Horsham, Pa., owns and operates more than 50 Web sites designed as online business-to-business communities. -By Chad Clinton, Dow Jones Newswires/Federal Filings Business News; 202-628-9798