Verticalnet Inc – ‘8-K’ for 3/23/00 – EX-99.1

On:  Thursday, 4/6/00   ·   For:  3/23/00   ·   Accession #:  1036050-0-566   ·   File #:  0-25269

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     13K 
 2: EX-2.1      Agreement and Plan and Merger                         59    301K 
 3: EX-99.1     Press Release                                          2     14K 

EX-99.1   —   Press Release

EX-99.1
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                                                                    Exhibit 99.1

VerticalNet Completes Acquisition Of Tradeum; Tradeum Platform Expands B2B      
Exchange Technology Capabilities                                                

HORSHAM, Pa.--(BUSINESS WIRE)--March 27, 2000--VerticalNet, Inc. (NASDAQ: VERT),
the Internet's leading portfolio of vertical trading communities, announced     
today that it has completed its previously announced acquisition of Tradeum,    
Inc., a San Francisco-based Internet B2B commerce technology company. The       
acquisition will help VerticalNet accelerate the delivery of its advanced       
technology platform including exchange capabilities, to its existing portfolio  
and growing network of US and International joint ventures. The Company also    
plans to leverage Tradeum's capabilities to deliver Internet solutions to Global
2000 companies and Net Market Makers.                                           

The merger was structured as a stock-for-stock exchange and will be accounted   
for as a purchase transaction. VerticalNet issued shares of its common stock in 
exchange for outstanding Tradeum shares and will issue VerticalNet shares upon  
the exercise of outstanding Tradeum options, in an aggregate amount equal to    
2,000,000 VerticalNet shares (before giving effect to VerticalNet's 2-for-1     
stock split, which becomes payable on March 31, 2000). Tradeum will operate as a
wholly owned subsidiary based in San Francisco.                                 

"With Tradeum, we acquire a technically advanced platform that enhances our     
existing offerings while allowing us to establish new customers and partnerships
among the Global 2000 by offering Tradeum's technology," said Mark Walsh,       
President and CEO of VerticalNet.                                               

About Tradeum                                                                   

As a leading innovator in building digital marketplaces, Tradeum provides       
flexible and scalable B2B commerce platforms supporting on-line catalogs,       
auctions, and exchanges. Tradeum's Transaction Discovery(TM) model enables      
customers to more quickly and easily discover and complete their optimal        
transactions. For Global 2000 companies and Net Market Makers, Tradeum's        
XML-based solution, industry templates and hosting capabilities enable faster   
more reliable time to market with higher transaction volumes. Based in San      
Francisco, California, Tradeum can be reached at www.tradeum.com or             
1.415.995.2080.                                                                 

About VerticalNet, Inc.                                                         

VerticalNet, Inc. (www.verticalnet.com), 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 the following industry sectors: ADVANCED TECHNOLOGIES,             
COMMUNICATIONS, ENVIRONMENTAL, FOOD AND PACKAGING, FOODSERVICE AND HOSPITALITY, 
HEALTHCARE/SCIENCE, MANUFACTURING AND METALS, PROCESS, PUBLIC SECTOR, SERVICE,  
TEXTILES AND APPAREL.                                                           

Additionally, VerticalNet provides auctions, catalogs, bookstores, career       
services and other e-commerce capabilities horizontally across its communities  
with sites like Industry Deals.com, IT CareerHub.com, LabX.com, Professional    
Store.com. VerticalNet's NECX Exchange provides an exchange for the electronic  
components industry.                                                            

This announcement contains forward-looking statements that involve risks and    
uncertainties, including statements relating to (i) the belief that the         
acquisition will allow VerticalNet to, accelerate the delivery of its advanced  
technology platform, including its exchange capabilities, (ii) VerticalNet's    
plan to leverage Tradeum's capabilities to deliver Internet solutions, as well  
as (iii) statements that are preceded by, followed by or include the words      
"believes," "plans," "intends," "expects," "anticipates," or similar            
expressions. For such statements, VerticalNet claims the protection of the safe 
harbor for forward-looking statements contained in the Private Securities       
Litigation Reform Act of 1995. Actual results                                   

EX-99.1
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may differ materially from the results predicted, and reported results should   
not be considered as an indication of future performance. Factors that could    
cause actual results to differ from those contained in the forward-looking      
statements include the difficulty of assimilating and integrating Tradeum's     
technology, operations and workforce; market demand for Tradeum's products and  
services as well as Tradeum's ability to develop new products and services on a 
timely basis; the increasingly competitive and constantly changing environment  
for the products and services offered by VerticalNet and Tradeum; rapid         
technological and market changes; the ability to recruit and retain personnel,  
particularly technology specialists; potential intellectual property and        
licensing issues; the development and sale of superior products or services by  
competitors; as well as those factors set forth in the Company's Annual Report  
on Form 10-K for the period ended 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.                                                        

VerticalNet is the registered trademark of VerticalNet, Inc. All other names are
trademarks and/or registered trademarks of their respective owners.             

CONTACT: Media Contact:                                                         
PepperCom for VerticalNet, Inc.                                                 
Peter Harris, 212/931-6112                                                      
pharris@peppercom.com                                                           
or                                                                              
Porter Novelli Convergence Group for Tradeum, Inc.                              
Darleen DeRosa, 415/975-2239                                                    
darleen.derosa@pnicg.com                                                        
or                                                                              
Corporate Contact:                                                              
VerticalNet, Inc.                                                               
Muriel Lange, Director Investor Relations, 215/315-3367                         
mlange@verticalnet.com                                                          
or                                                                              
Tradeum, Inc.                                                                   
Lynn Wallace, VP Marketing, 415/995-2092                                        
lynn@tradeum.com                                                                

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		4/6/00							S-3/A,  S-8
		3/31/00		1					10-Q,  8-K
		3/27/00		1
For Period End:		3/23/00							8-K/A
		9/30/99		2					10-Q
		12/31/98		2					10-K405
									List all Filings