Good morning Kemble,
DJ Lycos,Dell/ISP -2: Buy Stakes In Fast Search & Transfer
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17 Dec 6:37
WALTHAM, Mass. (Dow Jones)--Lycos Inc. (LCOS) signed an agreement to acquire stock and warrants to purchase up to 15% in Fast Search & Transfer ASA (Y.FST), Oslo, which develops develops search, real-time filtering and multimedia
products and services for the Internet and corporate markets.
In a press release Friday, Lycos said Dell Computer Corp. (DELL) also agreed to acquire stock and warrants to purchase about 4% in Fast Search.
Lycos President and Chief Executive Bob Davis will join Fast Search's board.
Fast Search provides search technologies, including MP3, multimedia and FTP searches, to the Lycos network. Lycos and Fast Search recently launched the Listening Room, as part of the Lycos Music launch, to enable bands to upload
their music to the Web, convert it to MP3 format, and host and maintain the audio files, for free.
Lycos plans to add other Fast Search technologies under an additional service agreement.
The investments are subject to Fast Search shareholder approval. The transactions are expected to close in January.
-Alan Paris; Dow Jones Newswires; 201-938-5400
(END) DOW JONES NEWS 12-17-99
06:37 AM |
