Lycos Considers Joint Ventures in Australia, China to Expand Web Services
By Aimee Picchi
Lycos Eyes Joint Ventures in Australia, China (Update1)
(Updates with closing stock price.)
Waltham, Massachusetts, June 25 (Bloomberg) -- Lycos Inc.,
the No. 3 Internet search service, is considering joint ventures
in China and Australia and to expand its Web-based services to
those regions, said Chief Executive Bob Davis.
Lycos is talking with possible partners in those countries,
though nothing has been decided yet, Davis said in an interview.
The company provides Lycos versions in several European languages
and countries as well as in Japan and Korea. Davis said the
company will unveil a Latin American version soon.
Any joint venture would be structured similarly to its
European unit, a joint venture between Lycos and Bertelsmann AG
that was created in 1997 with an investment from Bertelsmann and
technology from Lycos. Rival Yahoo! Inc., the No. 1 Internet
search service, already runs an Australia and New Zealand-based
service as well as a Chinese-language version.
Having a partner in Europe has put Lycos ''miles ahead of
where we would be if we were alone'' because local partners
understand the culture and business models that work there, said
Chief Financial Officer Ted Philip.
The Waltham, Massachusetts-based company is also considering
selling shares of its European unit to the public. Lycos said
that selling shares of the unit would allow it to make
acquisitions to expand its European business.
Lycos fell 3 5/8 to 91 13/16.
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