Web portal Lycos Inc. Wednesday purchased financial site Quote.com Inc. for $78.3 million in cash.
QUOTE.COM AND PREMIERE TECHNOLOGIES PARTNER TO DELIVER FINANCIAL NEWS ::
Publisher Quote buys software In bid to add Web sites, Lycos to pay $78.3m for Quote.com will pay $78.3 million in stock to acquire Quote.com Inc.
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The deal calls for Lycos (LCOS) to acquire all of Quote.com's outstanding stock, in exchange for approximately $78.3 million. Quote.com will be integrated into Lycos' network, adding financial tools and information to the portal. The deal is expected to close by the end of the year.
"This acquisition dramatically enhances our financial information offering, a key market segment we will focus on as we continue to grow the Lycos Network," said Bob Davis, president and CEO of Lycos. "By adding Quote.com, we are advancing our strategy of aggregating the best of content, commerce and community to create a compelling consumer environment."
Internet Industry Mergers & Acquisitions - WebProWorld::
December 2005 - Yahoo buys del.icio.us. Google Acquisition History: September 1999 – Lycos acquires Quote.com for $78.3 Million
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Quote.com offers both free and subscription services, including stock prices and charts, customized portfolios, trading and analysis. Under terms of the agreement, it will continue to operate from Mountain View, Calif. as a business unit of Lycos.
CFO - All Latest News::
Sabey Corporation buys East Marginal Way Corporate Park from Boeing. LU. 09/14/99. 16:20 Lycos Acquires Quote.com for $78.3 Million. MHP. 09/07/99. 17:51
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Colin::
will pay 78.3 million In a cash Plus-stock deal That does not Of Quote.com. Quote.com also Brings to Lycos More than 150 Co-branding affiliates.
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"The Lycos Network draws a large and diverse audience that complements our current customer profile," said Robert Honeycutt, president and CEO of Quote.com.
"Our unique Quote.com branded services bring category leadership in investment information to Lycos, enriching the Lycos experience for its visitors."
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