Verticalnet with acquisition

Filed in archive Venture Capital on February 3, 2004

What is the easiest way to Double your sales? You buy someone with the same revenues as you have. Verticalnet just did that and bought the Tigris Corp. (no, no it's not an Iraqi company).

"For Verticalnet, of Malvern, Pa., the acquisition is expected to double its 2004 revenue and triple its customer base. The combined company will operate under the Verticalnet name.

There will be no layoffs and the combined company now has about 120 employees (60 from each firm), a Verticalnet spokesman said. "

The Ariba fever spreads....