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VerticalNet completes acquisition of NECX Exchange

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Horsham, Pa.--VerticalNet has completed its acquisition of NECX Exchange, Peabody, Mass., the world's largest Internet-based business-to-business marketplace for the electronics industry. The addition of NECX Exchange's Net venue (www.necx.com) greatly expands VerticalNet's reach into the online marketplace for items such as semiconductors. Terms of the deal include payment of $10 million in cash, the issuance of stock with a current market value of about $95 million and the assumption of an undisclosed amount of debt.
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