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Technology Stocks : MessageMedia Inc. (MESG)

MESG 18.65

-25.4%

May 25 5:00 PM EST

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To: White Shoes who wrote (118)	6/9/1999 1:37:00 PM
From: Gutterball	Read Replies (1) of 553

Messagemedia Rises After $46 Mln Software Firm Buy NEW YORK (Reuters) - E-mail services firm MessageMedia Inc. (Nasdaq:MESG - news) Wednesday said it would buy software maker Revnet Systems Inc. for $46 million in stock, triggering a 17 percent jump in MessageMedia shares. MessageMedia, which is 49 percent owned by Japanese Web software firm Softbank Corp., said the move bolsters its position as a consolidator in the e-mail marketing business, expanding its realm of product offerings and adding new clients. MessageMedia was among the top percentage gainers on the Nasdaq late Wednesday. Shares of the Boulder, Colo. company were up $1.75 at $11.44. Privately held Revnet, which is based in Huntsville, Ala., makes software that directs e-mail on certain subjects to certain users on a computer network. MessageMedia sells messaging services for marketing and in-house communications. Its customers include online brokerage E+Trade Group Inc. and Yahoo! Inc.'s GeoCities Web service. Revnet software can be used to send advertising to customers interested in specific subjects. It can also be used within a firm to transmit information to groups of employees. MessageMedia said the Revnet acquisition gives it new customers in the personal computer and software-based e-mail services markets. Revnet customers include the Wall Street Journal and No.2 computer services supplier EDS Corp. . ''Revnet allows Messagemedia to expand its offerings into PC and software-based solutions, and brings us a rich set of new clients,'' MessageMedia President and Chief Executive Officer Larry Jones said. MessageMedia is currently finalizing the Revnet deal and expects it to close within 30 days.

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