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To: puborectalis who wrote (119618)	12/19/2000 5:40:56 PM
From: puborectalis	Respond to of 120523

VERT good news!!.......Converge buys VerticalNet's NECX trading exchange CUPERTINO, Calif., Dec 19 (Reuters) - Converge Inc. -- an online marketplace founded by Hewlett-Packard Inc. (NYSE:HWP - news) and 14 other technology companies -- on Tuesday said it will buy NECX, an electronic components trading exchange owned by VerticalNet Inc. As a result of the acquisition, which is expected to close in the first quarter of 2001, Horsham, Pa.-based VerticalNet (NasdaqNM:VERT - news) will receive a 19.9-percent equity interest in Converge and a seat on its board. Converge also announced that it signed a separate agreement to have VerticalNet Solutions, a VerticalNet division, provide the technical backbone for its trading operations. The three-year software licensing and professional services agreement is valued at $107.5 million. Customers in North America, Asia and Europe buy and sell more than $1 billion in electronics components NECX's exchange each year.