LV company signs e-commerce deal

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Wednesday, Nov. 3, 1999 | 11:44 a.m.

PurchasePro.com Inc., a Las Vegas-based Internet procurement company, signed a revenue-sharing deal with a company that has its own Internet commerce network.

PurchasePro will provide the electronic commerce software in its deal with VerticalNet Inc., Horsham, Pa.

The two companies provide a means for business-to-business commerce on the Internet with PurchasePro linking businesses with suppliers in the hospitality, construction and education sectors. VerticalNet has a network of 51 businesses in 10 sectors.

The companies did not disclose the percentage split of the revenues generated in the deal.

In early trading today, PurchasePro stock was up $10.47 from its Tuesday close to $71.97 and VerticalNet was up $5.81 to $62.81.