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CMGI INC (112-1/16, prior to open) will acquire
electronic-commerce service provider Tallan Inc. in a cash and
stock deal valued at about $920 million, CMGI said. After the
Tallan deal closes, CMGI Solutions, the CMGI unit that helps
companies set up Web sites, will include Tallan's capabilities,
such as online transaction-processing systems and data management,
into its services, CMGI said. The acquisition will allow CMGI to
expand its billable resources by 350 percent, CMGI said. Jack
Hughes, chief executive of Tallan, will become chief operating
officer of CMGI Solutions and will report to Ronald Spears, CMGI
Solutions president and chief executive.
CMGI up 2 in preopen |
