VerticalNet Completes Acquisitions Of Two New Vertical e-Communities
Gains Leaders In The Textiles And Apparel Industry Plus The Public Sector Marketplace
VerticalNet Inc., the Internet's leading portfolio of business-to-business trading communities, announced today that it has completed the acquisitions of TextileWeb, Greensboro, NC, the textile industry's leading online vertical community; and GovCon.com, Rockville, MD, the leading online community for bidders on federal government contracts.
The acquisitions closed December 30, 1999.
TextileWeb, along with the content of two related sites, Online Textile News and TextileShow, will form the nucleus for VerticalNet's new Textiles and Apparel Industry Group, serving the $70 billion textile and apparel industry. The TextileWeb properties, which include a buyer's guide and marketplace, news, and a virtual trade show, currently generate significant page views.
GovCon and its sister site BidRadar, serve over 100,000 registered users in the government contracting arena and have a robust industry-specific registered user base servicing small and mid-size businesses in that market. GovCon will form the nucleus for VerticalNet's new Public Sector Industry Group, a market worth more than $500 billion.
The companies have established customer bases and several revenue streams including advertising, sponsorships and e-commerce.
"These acquisitions bring our total number of communities to 55 and add important new industry sectors of textiles and public sector markets to our portfolio," said Mark Walsh, President and CEO of VerticalNet. "With the acquisition of these leading companies, we jumpstart our entry into new sectors while continuing to extend our advantage as the Internet's leading portfolio of business-to-business trading communities."
VerticalNet announced that Paul Risen and Rick Reddel, the principals of TextileWeb, will join VerticalNet as Co-Industry Managers. David Coakley, President of GovCon, joins VerticalNet as Industry Manager.
About VerticalNet
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 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.com; OTHER: Oil Link.com, LabX.com, Industry Deals.com, IT CareerHub.com, Professional Store.com.