VerticalNet, Inc. and Softbank Commerce Corp. Monday inked a joint venture deal with an eye on the B2B vertical portal market in Japan.
The new company will operate under the banner of VerticalNet Japan K.K., and will replicate VerticalNet’s (VERT) business-to-business strategy for the Japanese market, including local content and business-targeted community services.
The company expects to bring its services to market later this year.
Terms of the deal were not disclosed.
“Our partnership will accelerate the Internet’s impact on how Asian businesses conduct transactions and expand markets in
Japan,” said Masayoshi Son, Softbank’s President and Chief Executive
Officer.
VerticalNet owns 55 industry-targeted Web sites which it dubs as vertical trade communities, while Softbank Commerce is a subsidiary of the Internet heavyweight Softbank.