CMGI Completes Private Placement
ANDOVER, Mass., Jun 30, 1999 (BUSINESS WIRE via COMTEX) -- CMGI,Inc.,
(Nasdaq:CMGI) has completed a $375 million private placement of its
Series C Convertible Preferred Stock. The shares were purchased by
funds managed by four institutional investment managers. Shoreline
Pacific Institutional Finance, The Institutional Division of Financial
West Group, arranged for the private placement transaction.
Proceeds of the private placement will be used for acquisitions of
controlling positions in companies and working capital purposes.
About CMGI
A recognized leader in the Internet economy, CMGI (Nasdaq:CMGI) has
built a substantial base of Internet operating companies and, through
its @Ventures affiliates, has invested in a growing portfolio of
synergistic Internet enterprises which enhance the value of its core
holdings. This unique method of generating equity for its shareholders
is what CMGI calls "creating net value." Microsoft, Intel and Sumitomo
hold minority positions inCMGI.
CMGI's majority-owned subsidiaries include Activerse, Adsmart, Engage,
iCast, Magnitude Network, NaviSite, NaviNet, Planet Direct and
ZineZone. The Company's @Ventures affiliates have ownership interests
in Lycos, Inc. (Nasdaq:LCOS), Critical Path (Nasdaq:CPTH), Silknet
(Nasdaq:SILK), Ancestry.com, Asimba, blaxxun, BizBuyer.com,
CarParts.com, Chemdex, eCircles.com, Furniture.com, HotLinks, KOZ.com,
MotherNature.com, NextMonet.com, NextPlanetOver.com, OneCore.com,
ONElist, Productopia, Promedix.com, Raging Bull, Softway Systems,
Speech Machines, ThingWorld.com, Universal Learning Technology,
Vicinity, Virtual Ink and Visto.
CMGI is also the majority-owner of SalesLink, InSolutions and On-Demand
Solutions, leaders in direct marketing, fulfillment and turnkey arenas.
CMGI Corporate headquarters is located at 100 Brickstone Square,
Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3814.
Additional information is available on the company's Web site at
cmgi.com .
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: CMGI
Krista Thomas, 978/684-3141
kthomas@cmgi.com
WEB PAGE: businesswire.com
GEOGRAPHY: MASSACHUSETTS
INDUSTRY CODE: COMED
COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET
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