Italcementi unit buys Verticalnet

Italcementi unit buys Verticalnet
Published: 29 October 2007

Italian cement company Italcementi said on Friday its unit BravoSolution has agreed to buy U.S. supply management solutions firm Verticalnet in an all-cash offer worth $15.2 million including debt.

BravoSolution will buy all of Verticalnet’s shares for $2.56 a share, Italcementi said in a statement.

The two companies will later merge to form a group with annual sales of $60 million, it said.