[00-6-20] Engage Gets $75m Boost From Compaq, CMGI
By Adam Creed, Newsbytes.
ANDOVER, MASSACHUSETTS, U.S.A.,
20 Jun 2000, 1:56 AM CST
Engage Gets $75m Boost From Compaq, CMGI 06/20/00 ANDOVER, MASSACHUSETTS, U.S.A., 2000 JUN 20 (NB) -- By Adam Creed, Newsbytes. Online marketing firm, Engage Inc. [NASDAQ:ENGA], has said it will get a total of $75 million in funding from Compaq Computer Corp. [NYSE:CPQ] and its majority owner, Internet investments company CMGI Inc. [NASDAQ:CMGI].
Engage is an Internet marketing company that includes Web audience measurement company I/PRO and Internet advertising company AdKnowledge.
The follow-on funding will be used to fund the expansion of Engage's operations.
The deal will see Engage issue 5 million shares to CMGI and Compaq in return for investments of $50 million and $25 million. Compaq is a minority shareholder in CMGI along with Intel, Microsoft, Hong Kong's Pacific Century CyberWorks and Japan's Sumitomo Corp.
Engage shares closed on the Nasdaq up $1.63 to $15.38 on Monday.
Reported By Newsbytes.com, newsbytes.com
01:56 CST
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