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VerticalNet To Pay Microsoft $75M In 3-Yr E-Commerce Pact
Monday, April 3, 2000 12:58 PM
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WASHINGTON (Dow Jones)--VerticalNet Inc. (VERT, news, msgs) will pay Microsoft Corp. (MSFT, news, msgs) $75 million as part of its three-year distribution and marketing agreement with the software giant, according to VerticalNet's annual report filed with the Securities and Exchange Commission.
Microsoft will provide VerticalNet with distribution and marketing support through several Microsoft properties, including the MSN network of Internet services, Microsoft bCentral small business portal and Microsoft.com.
VerticalNet agreed to accelerate its adoption of Microsoft technologies as the platforms that support VerticalNet's community architecture.
VerticalNet, based in Horsham, Penn., owns and operates industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities.
VerticalNet disclosed in the filing that it will pay Microsoft $18.5 million over three years to develop and enhance its products and services for the business-to-business marketplace and database software technology.
In addition, the company said it will pay Microsoft $56.5 million over three years toward the licensing of Microsoft products and the provision of Microsoft services.
As reported Jan. 20, Microsoft will invest $100 million in VerticalNet as part of an electronic commerce alliance between the companies.
Separately, VerticalNet said it will contribute $7 million over the next two years to its VerticalNet Europe joint venture. The company expects to make a $3.5 million payment in the second quarter of fiscal 2000.
British Telecommunications Group PLC (BTY, news, msgs) and Internet Capital Group Inc. (ICGE, news, msgs) are partners with VerticalNet on the venture, in which the three partners will together invest more than GBP141 million in cash and assets. The combined cash contribution will be GBP66 million.
VerticalNet is the majority shareholder, while British Telecommunications has a 33% stake valued at around GBP47 million.
Bought R.W. Electronics
Also according to the Form 10-K, filed late last week, VerticalNet purchased R.W. Electronics Inc., or Real World Electronics, a privately held electronics exchange, for $10 million and 720,642 shares of its common stock.
As reported, VerticalNet unit NECX.com LLC completed the acquisition Monday. NECX.com said it will combine resources with Real World Electronics to expand the Internet's first large-scale open-market trading community for engineers and purchasing professionals in the electronics and high-technology industry.
VerticalNet indicated in the filing that it may be required to issue up to 366,702 additional shares based on the average closing price of its common stock between Feb. 16 and the day immediately before the registration of the shares with the Securities and Exchange Commission.
Also as part of the agreement, VerticalNet assumed certain debt of R.W. Electronics, which includes a credit line valued at $21 million on March 15.
-Gee L. Lee; Dow Jones Newswires/Federal Filings Business News; 202-628-7681
Ob da Verticalnet auch so viel für Microsofts Dienste ausgegeben hätte, wenn sich Microsoft nicht beteiligt hätte? Wohl kaum... Glaubt hier jemand, daß sich die hohen Ausgaben Verticalnets an Microsoft auszahlen?
Gruß furby
VerticalNet To Pay Microsoft $75M In 3-Yr E-Commerce Pact
Monday, April 3, 2000 12:58 PM
Mail this article to a friend
WASHINGTON (Dow Jones)--VerticalNet Inc. (VERT, news, msgs) will pay Microsoft Corp. (MSFT, news, msgs) $75 million as part of its three-year distribution and marketing agreement with the software giant, according to VerticalNet's annual report filed with the Securities and Exchange Commission.
Microsoft will provide VerticalNet with distribution and marketing support through several Microsoft properties, including the MSN network of Internet services, Microsoft bCentral small business portal and Microsoft.com.
VerticalNet agreed to accelerate its adoption of Microsoft technologies as the platforms that support VerticalNet's community architecture.
VerticalNet, based in Horsham, Penn., owns and operates industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities.
VerticalNet disclosed in the filing that it will pay Microsoft $18.5 million over three years to develop and enhance its products and services for the business-to-business marketplace and database software technology.
In addition, the company said it will pay Microsoft $56.5 million over three years toward the licensing of Microsoft products and the provision of Microsoft services.
As reported Jan. 20, Microsoft will invest $100 million in VerticalNet as part of an electronic commerce alliance between the companies.
Separately, VerticalNet said it will contribute $7 million over the next two years to its VerticalNet Europe joint venture. The company expects to make a $3.5 million payment in the second quarter of fiscal 2000.
British Telecommunications Group PLC (BTY, news, msgs) and Internet Capital Group Inc. (ICGE, news, msgs) are partners with VerticalNet on the venture, in which the three partners will together invest more than GBP141 million in cash and assets. The combined cash contribution will be GBP66 million.
VerticalNet is the majority shareholder, while British Telecommunications has a 33% stake valued at around GBP47 million.
Bought R.W. Electronics
Also according to the Form 10-K, filed late last week, VerticalNet purchased R.W. Electronics Inc., or Real World Electronics, a privately held electronics exchange, for $10 million and 720,642 shares of its common stock.
As reported, VerticalNet unit NECX.com LLC completed the acquisition Monday. NECX.com said it will combine resources with Real World Electronics to expand the Internet's first large-scale open-market trading community for engineers and purchasing professionals in the electronics and high-technology industry.
VerticalNet indicated in the filing that it may be required to issue up to 366,702 additional shares based on the average closing price of its common stock between Feb. 16 and the day immediately before the registration of the shares with the Securities and Exchange Commission.
Also as part of the agreement, VerticalNet assumed certain debt of R.W. Electronics, which includes a credit line valued at $21 million on March 15.
-Gee L. Lee; Dow Jones Newswires/Federal Filings Business News; 202-628-7681
Ob da Verticalnet auch so viel für Microsofts Dienste ausgegeben hätte, wenn sich Microsoft nicht beteiligt hätte? Wohl kaum... Glaubt hier jemand, daß sich die hohen Ausgaben Verticalnets an Microsoft auszahlen?
Gruß furby
