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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (116156)	11/6/2000 11:44:59 PM
From: Kevin McKenzie	Respond to of 120523

You're welcome.

To: Jenna who wrote (116156)	11/7/2000 1:22:48 AM
From: puborectalis	Respond to of 120523

VerticalNet to Buy SierraCities.com for $133 Million in Stock 11/6/00 6:43:00 PM Source: Bloomberg News Horsham, Pennsylvania, Nov. 6 (Bloomberg) -- VerticalNet Inc., which manages Web sites where businesses can buy and sell products, said it will buy SierraCities.com Inc. for $133 million in stock to gain a financing business for its customers. VerticalNet will pay $7 in stock for each share of the Houston-based company, it said in a press release distributed by Business Wire. That's 65 percent more than SierraCities.com's closing price today. SierraCities.com, which specializes in making business loans of less than $100,000 over the Internet, has more than $3 billion in loans and leases under management. The purchase of the six-year- old company will allow VerticalNet to offer financing and credit- rating services to businesses that buy and sell goods over its 57 online exchanges. VerticalNet said it hopes to complete the acquisition by the end of the year. Holders of about 20 percent of SierraCities.com shares have agreed to exchange them in the merger. VerticalNet shares, which have fallen 64 percent so far this year, fell 31 cents to $29.50 today. SierraCities.com rose 3 cents to $4.25. More Broker Reports