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VerticalNet to buy plastics marketplace

Business-to-business software company VerticalNet has agreed to acquire PlasticsNet.com, an online marketplace for the plastics industry. Financial terms of the deal were not disclosed. The move follows business-to-business network software and services provider Commerx's divestment in the marketplace. Although the move appears to fly in the face of VerticalNet's decision to focus on selling software for online marketplaces instead of running them, a company representative said Monday that VerticalNet never got out of the marketplace management business, but just added software to its portfolio of offerings. PlasticsNet becomes the 59th marketplace that VerticalNet manages.

    Business-to-business software company VerticalNet has agreed to acquire PlasticsNet.com, an online marketplace for the plastics industry. Financial terms of the deal were not disclosed. The move follows business-to-business network software and services provider Commerx's divestment in the marketplace.

    Although the move appears to fly in the face of VerticalNet's decision to focus on selling software for online marketplaces instead of running them, a company representative said Monday that VerticalNet never got out of the marketplace management business, but just added software to its portfolio of offerings. PlasticsNet becomes the 59th marketplace that VerticalNet manages.