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Non-Tech : Quote.com QCharts -- Ignore unavailable to you. Want to Upgrade?

To: David Loomis who wrote (3687)	9/8/1999 2:24:00 AM
From: Steve Fancy	Respond to of 17977

Lycos buys Quote.com for $78.3 mln Reuters, Wednesday, September 08, 1999 at 00:02 BOSTON, Sept 8 (Reuters) - Internet portal firm, Lycos Inc. (NASDAQ:LCOS) said on Wednesday it signed an agreement to buy Quote.com, which provides financial information to subscribers on the Web, for $78.3 million in stock, plus assume the privately-held company's stock option plan. Neither company would disclose the value of the stock option plan. Mountain View, Calif.-based Quote.com offers some 300,000 subscribers news and information from Reuters, Standard & Poor's, and PR Newswire, real-time stock quotes, earnings reports, company profiles and analytical market tools. "Financial and investment are very popular reasons why people visit the Web and this will strengthen our offerings in that area," Lycos spokeswoman Michele Perry said. One of the fastest-growing Internet portals, Waltham, Mass.-based Lycos is visited by more than 30 million people each month and features services such as Web searching, chat rooms, e-mail, online shopping, news, auctions and home pages. About 75 percent of Lycos' revenue comes from advertising. The acquisition, subject to Quote.com shareholder approval, is expected to close by year's end. The deal also brings to Lycos Charles Schwab (NYSE:SCH), Waterhouse Securities, Sun America and Bank of America/Nations Bank (NYSE:BAC) whose sites rely on Quote.com content and services. Earlier this year, Lycos's 1999 merger agreement with USA Networks fizzled and the company remains available to other suitors. Internet investment firm CMGI owns 18 percent of Lycos. Boston.newsroom@Reuters.com)) Copyright 1999, Reuters News Service