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Technology Stocks : LBRT - Liberate -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (68)	1/13/2000 8:42:00 PM
From: PoetTrader	Read Replies (1) \| Respond to of 409

To Pat and All...here's the reason for the jump: I bought more this am, thank god, before I knew anything about it. PoetTrader Liberate to acquire VirtualModem Intuit jumps on online TurboTax offerings By Myra P. Saefong, CBS MarketWatch Last Update: 6:40 PM ET Jan 13, 2000 NewsWatch Liberate, a provider of server software, announced Thursday that it will acquire VirtualModem, a joint venture of Source Media and Insight Communications, in a deal worth $193.8 million. Today on CBS MarketWatch Ballmer new Microsoft CEO Apple shines after upgrade Warner-Lambert clears Pfizer talks Dallas Semiconductor tops targets PPI shows no inflation growth More top stories... CBS MarketWatch Columns Updated: 01/13/2000 5:05:28 PM ET Under the terms of the transaction, Source Media (SRCM: news, msgs) and Insight (ICCI: news, msgs) will sell their jointly owned VirtualModem software and assets related to the business for 886,000 shares of Liberate (LBRT: news, msgs) common stock. Shares of Liberate gained 13 1/2 to close at 218 3/4 Thursday, bringing the value of the deal to $193.8 million. "This acquisition will enable Liberate to deliver interactive TV to the broadest range of set-top boxes in the marketplace," Mitchell Kertzman, Liberate's chief executive said in a statement. The amount of shares Liberate will spend excludes the San Carlos, Calif.,-based company's recently announced two-for-one stock split, which goes into effect on or around Jan. 14. The shares will be distributed equally between Source Media and Insight. The companies anticipate the transaction to be completed during the first quarter of 2000. As a result of the news, Robertson Stephens' senior Internet analyst, Michael Graham reiterated his "buy" rating on Liberate, stating in a research note that VirtualModem "could speed the rollout of its platform to service providers and OEMs, which deploy and manufacture low-end set-top boxes." Additionally, Insight Communications said it has chosen Liberate's software platform to deliver interactive television services. See press release. Liberate will also make the VirtualModem a preferred content provider, so its cable partners can benefit from the local content product LocalSource and the interactive program guide, SourceGuide. VirtualModem's technology will continue to be updated, Liberate said, so programming assets can be ported to other platforms.