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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: ShenValleyBill who wrote (11062)	6/29/1999 11:36:00 AM
From: Tae Spam Kim	Respond to of 19700

CMGI and Compaq Deal - 10:46 AM EST - TK CMGI completed its deal to acquire Altavista and other various internet properties for about $2.3 billion. Compaq did a smart thing by using this opportunity to take a stake in CMGI. This allows the company to capture upside with a premier internet venture capital-incubator firm. Moreover with the board seat, Compaq will have access to CMGI inner-workings and information. It's a win-win deal for both parties. CMGI gets the operating unit it needs to keep its current legal status and Compaq doesn't lose its internet investment. Internet investment firm CMGI Inc. said Tuesday it would buy Web search engine AltaVista from Compaq Computer Corp. for $2.3 billion, part of a wider deal that closely links the two high-tech companies' futures. In the widely anticipated deal, CMGI obtains a 83 percent stake in AltaVista, and Compaq becomes its largest outside shareholder, holding the other 17 percent. Compaq will hold an AltaVista board seat. Also as part of the deal, Compaq will receive 19 million common shares and preferred shares worth 1.8 million common shares of CMGI, giving the PC giant a 16.4 percent ownership in the Net venture firm. - CnnFn.com