Verticalnet to be acquired by BravoSolution

Verticalnet, Inc. (Nasdaq: VERT), a supply management software and services provider, said this morning that it will be acquired by BravoSolution, S.p.A., a European provider of supply management software and services, for approximately $15.2 million, including the assumption of all outstanding Verticalnet debt and other liabilities of Verticalnet related to the transaction.

BravoSolution will pay $2.56 per share for Verticalnet, substantially below the level of $5.61 per share at which Verticalnet’s shares closed on Thursday.  BravoSolution will also acquire all the outstanding shares of Verticalnet Series B Preferred for $3,205,000.

Shares of Verticalnet (VERT) tumbled 51.3%, or $2.88, to $2.73 in pre-market trading. Shares of Verticalnet have been trading in the range of $ 1.76 to $8.98 for the past 52 weeks.

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