WAYNE, Pa., June 13 /PRNewswire/ -- Infonautics, Inc. (Nasdaq: INFO), a pioneering provider of personalized information agents and Internet sites, noted that eBay Inc. (Nasdaq: EBAY) announced today it has agreed to acquire Half.com, Inc., in which Infonautics has a minority equity position. The exact number of shares to be issued to Infonautics as a result of the acquisition will be determined in accordance with a formula, but is expected to be between 140,000 and 175,000 shares of eBay stock. According to eBay, the transaction is expected to close in the third quarter following receipt of necessary approvals and other conditions.
Josh Kopelman, a co-founder of Infonautics and founder and CEO of Half.com, left Infonautics in order to start Half.com. Infonautics made an investment of $280,000 in Half.com at the time of his departure.
Van Morris, Infonautics President & CEO, commented, "Infonautics was proud to be the first investor in Half.com and we are gratified that our shareholders now have a visible means of valuing the return on that investment. We have always believed in Josh and his vision, and we are excited to see the acceleration of his business plan through this combination." |
