Softbank, VerticalNet to set up joint venture

TOKYO -- Softbank Commerce Corp., a subsidiary of giant Japanese Internet investor Softbank Corp. said on Monday it and VerticalNet Inc. (Nasdaq:VERT) will set up a joint venture in February. The new company, "VerticalNet Japan Corp.," will provide business-to-business electronic commerce services. Softbank is the parent company of Ziff-Davis Inc., which operates ZDNet. -- Reuters