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Technology Stocks : Beyond.com (BYND) the NEW software.net....

BYND 1.385

+16.4%

Nov 7 9:30 AM EST

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To: Jon Tara who wrote (129)	2/22/1999 7:46:00 AM
From: sylvan	Read Replies (2) of 422

Beyond.com to buy BuyDirect for $133.7 mln - WSJ NEW YORK, Feb 22 (Reuters) - Beyond.com (Nasdaq:BYND - news) said it agreed to buy privately-held about $133.7 million in stock, a transaction that would combine two of the biggest software merchants on the Internet, the Wall Street Journal reported Monday. The transaction is expected to be announced Monday, the New York newspaper reported. Both companies sell software programs through their Web sites and also allow customers to electronically download a wide range of software from a variety of publishers. Beyond.com, of Sunnyvale, Calif., plans to issue 5.4 million of its shares for San Francisco-based BuyDirect, which is closely held. The deal is Beyond.com's first major acquisition since going public last year. ''This acquisition solidifies our market share as the biggest software retailer in the e-commerce space,'' Mark Breier, Beyond.com's chief executive told the newspaper. Breier is a former marketing executive at leading online book seller Amazon.com Inc (Nasdaq:AMZN - news). Amazon is expected to become a major competitor in software and, people familiar with the matter said, the company has in the past had talks with Beyond.com about buying the smaller company.

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