VerticalNet buys Atlas Commerce for $24.2M

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Horsham, Pa.—Struggling b-to-b Internet pioneer VerticalNet Inc. announced it has acquired privately held Atlas Commerce Inc., a provider of private exchange software. The deal, which was a combination of stock and $3.5 million in cash, was valued at $24.2 million, not including VerticalNet’s assumption of responsibility for the Atlas Commerce employee stock option plan. With the acquisition, VerticalNet plans to help simplify the collaborative supply chain online, which can enable customers to reduce costs through improved inventory management.
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