INDUSTRY WEB SITE OPERATOR TO ACQUIRE SOFTWARE MAKER.The Web site operator VerticalNet Inc. agreed to acquire the privately held Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the software company Tradeum Inc. for $475 million in stock. Tradeum makes software used to develop online catalogs Similar to an online library or databases in the information storage respect, ‘’’online catalogs’’’ allow potential customers to browse a company’s items for sale from a different location using the internet. and Web sites that match business buyers and sellers. VerticalNet, based in Horsham, Pa., operates industry Web sites where companies can get industry information and exchange products. VerticalNet had $20.8 million in revenue in 1999 and has a current market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $8.6 billion. The company said Tradeum will keep its San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden headquarters. |
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