This should make for an interesting day in LCOS:
Wired Digital sold to Lycos Internet service
SAN FRANCISCO (Wired) - In a move that continues the trend of consolidation in the Internet industry, Web search and community firm Lycos Inc. has acquired Wired Digital, the parent company of Wired News and the HotBot search engine, for approximately $83 million in Lycos stock. Lycos said in a statement Tuesday that the combined traffic of both companies will allow Lycos, already the second most visited Web index service, to reach more than 40% of Web users. Speaking at a late-morningpress conference, Lycos' chief executive, Jim Davis, said the deal would be accretive to earnings and that the company would add $15 million to $20 million in his company's current fiscal year.
Veritas agrees to buy Seagate unit for $1.6 bln
PALO ALTO, Calif. (Reuters) - Veritas Software Corp. said late Monday it would buy the Networkand Storage Management Group of Seagate Software, a unit of Seagate Technology Inc., for about $1.6 billion in stock, creating a powerhouse in the storage software industry. Veritas, a maker of software to protect data, will issue about 33 million of its common shares to form the new company,which will retain the Veritas Software name, employ about 2,300 people and make a wide range of data storage management products. As the No. 1 maker of disk drives, Seagate has been looking for ways to cut costs and streamline its businesses amid a glut of disk drives. |
