To: Bill Harmond who wrote (85927 ) 12/2/1999 7:51:00 AM From: Glenn D. Rudolph Respond to of 164684
Yahoo expands Atlanta-based subsidiaries ATLANTA, Dec 1 (Reuters) - Internet media company Yahoo! Inc. <YHOO.O> said on Wednesday that fast growth had prompted it to expand the operations of two newly-acquired subsidiaries in northern Atlanta. Santa Clara, Calif.-based Yahoo, which was added to the Standard & Poor's 500 Index on Wednesday, confirmed that it would consolidate and expand the headquarters of its Encompass and Yahoo NetRoadshow subsidiaries in Atlanta's Northcreek Office Park. NetRoadshow, an online provider of speeches and events for investment banks, said it had outgrown its facilities since it merged with Yahoo in August. Yahoo will also move Encompass, a leading provider of Internet software, into the same building. Yahoo purchased Encompass for about $130 million in May. "We are adding more high-skilled employees, and we expect an additional 40 to 50 new employees nationwide by the end of 2000," NetRoadshow Chief Executive Officer Nick Ferrante said. Yahoo's expansion illustrates an ongoing trend which has seen dozens of technology companies relocate to Atlanta to take advantage of the city's relatively low labor and real estate costs. An economic boom has also prompted local companies to consider their own expansion plans. Interland Inc., a privately-held Atlanta-based Web-hosting company, has more than quadrupled its office space in downtown Atlanta. Interland Managing Director Bart Hahn said the company would likely relocate 200 call center employees to its downtown office sometime in January. Last week, MindSpring Enterprises Inc., one of the largest Internet providers in the United States, announced it planned to move its headquarters within Atlanta to accommodate strong growth. Yahoo gained 9-1/2 to 228-1/4 in mid-afternoon trading on the Nasdaq stock exchange, while MindSpring fell 1 to 30-9/16 on the Nasdaq. 327-5787 REUTERS Rtr 17:00 12-01-99