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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 75.78-3.5%Jan 30 9:30 AM EST
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To: Bosco who wrote (23689)1/25/2001 11:26:19 AM
From: levy  Read Replies (1) of 28311
 
here is an excerpt from that letter to go2net staff from Horowitz.....I know this would be standard but we all trust Horowitz........and trust as you know is a very important thing

"It is a merger. We call it a merger for the following reasons: (1) from an
accounting perspective, the deal is a pooling of interests, not a purchase,
so we are essentially combining our financial statements; (2) Go2Net is
contributing equitable revenue to the combined company; (3) Go2Net's
executive management will continue in key executive roles when the
companies complete the merger later this year; and (4) Go2Net and InfoSpace
have a similar number of total employees. Despite all of this, some members
of the media and certain individuals will call it an acquisition since GNET
shareholders will end up with INSP shares. That is fine. Technically, it is
a merger, but we are not going to go on a holy war to explain this to
people. The combined company will be named InfoSpace and we should feel at
least as strongly about it as we have about Go2Net. Just because the name
changes, it does not mean it is not OUR COMPANY. We should take tremendous
pride in the position and opportunities of our new company. "
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