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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: dwight martin who wrote (6726)	7/16/1999 1:39:00 AM
From: biffpincus	Read Replies (1) \| Respond to of 10081

Excite invests in GMGC, General Instrument invests in Excite ... What goes around comes around ... Gen'l Instrument invests in ExciteAtHome venture HORSHAM, Pa., July 15 (Reuters) - General Instrument Corp. (NYSE:GIC - news) said Thursday it would invest $5 million in AtHome Solutions, the recently formed venture of ExciteAtHome Corp. (Nasdaq:ATHM - news). AtHome Solutions offers Internet services to small and medium-sized cable operators who then resell the services to their subscribers. General Instrument said it will partner with the joint venture to help speed the deployment of broadband services to the estimated 15 million homes and businesses that could be reached by small and mid-sized cable operators. ''This investment demonstrates General Instrument's commitment to the high-speed data-over-cable market,'' said Dan Moloney, senior vice president and general manager of General Instrument's advanced network and telecom systems. Shares of General Instrument closed at 47-3/8 on the New York Stock Exchange, up 1/2 on the day. Earlier in the session, the stock hit a fresh one-year high of 48-1/2. Shares of AtHome closed down 1-3/8 on the Nasdaq at 47-9/16.