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Sumitomo snaps upVerticalNet stock

Published on .

Sumitomo Corp. has purchased $30 million in VerticalNet Inc. stock and will work with the operator of vertical portals on projects outside the U.S. Sumitomo, a 400-year-old, $47 billion trader and distributor of commodities and industrial and consumer goods, will potentially help license and distribute VerticalNet products and services, according to a statement. M&A West planning VC industry journal.
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