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 ( 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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