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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (16461)	6/22/1999 3:57:00 PM
From: Wes Stevens	Read Replies (1) \| Respond to of 56537

I will check it out: In the mean time: 06/22 15:36 Microsoft invests $50 mln in Concentric Network PALO ALTO, Calif., June 22 (Reuters) - Microsoft Corp. <MSFT.O> on Tuesday said it will invest $50 million in Internet service provider Concentric Network Corp. <CNCX.O>, continuing the largest software company's push into all things Internet-related. Concentric, which provides high-speed and dial-up Internet access and hosting services for small- to mid-sized businesses, and Microsoft will also develop a co-branded MSN portal for Concentric customers. For dial-up subscribers and DSL customers, the companies will meld together content and services from Microsoft's MSN network with those from Concentric. DSL is a new, faster way to connect to the Internet that is now being widely rolled out. "We have listened to the needs of our customers and are serving as a one-stop source for information and Internet services," said Henry Nothhaft, chairman of San Jose, Calif.-based Concentric in a statement. News of the deal, which also includes an extension to two years of its contract with Microsoft's WebTV Internet service, sent Concentric stock up $2.375 to $34.875 in afternoon trading on the Nasdaq. Microsoft shares fell $1.938 to $87, also on Nasdaq. Concentric also said it would spend $7.5 million to advertise on the MSN network. Already, Concentric provides dial-up access for subscribers to the WebTV Network Classic and WebTV Network Plus products in the U.S. and Canada. Late this year, Concentric said it will also introduce new data-hosting services based on Windows NT software and Microsoft BackOffice software. (( duncan.martell@reuters.com // 1-650-846-5401 ))