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VerticalNet to buy SierraCities.com for $133 million

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Horsham, Pa.--VerticalNet Inc. will acquire SierraCities.com, a Houston-based b-to-b online financing and credit company, for $133 million in stock. SierraCities, which focuses on automating credit risk for small businesses, will be renamed VerticalNet Credit. VerticalNet, as with most e-marketplaces, is seeking to expand its online financing options for its users. To date, an over-reliance on credit cards as a financing option has kept some e-hubs from attracting new users.
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