CMGI Takes Strategic Position in Divine interVentures
<<ANDOVER, Mass.--(BUSINESS WIRE)--Feb. 4, 2000--CMGI, Inc. (Nasdaq: CMGI - news), the world's largest and most diverse network of Internet companies, today announced its agreement to take a strategic position in divine interVentures, inc. (www.divine.com), a Chicago-based Internet operating company focused on the business-to-business marketplace. Under the terms of the agreement, upon final closing CMGI will hold a 4.9% stake in divine interVentures. The two Internet innovators have also formed a strategic relationship through which they will work to utilize and promote the products and services of each other's network of affiliates.
This new relationship will enable divine interVentures to take advantage of the powerful technologies, services and proven expertise housed in the more than 60 CMGI and CMGI @Ventures companies as it helps its Midwest-based entrepreneurs build their business-to-business Internet start-ups. In return, CMGI will be able to offer both start-ups and mature companies in its own network a variety of new business development and sales opportunities in the Midwest.
''We are pleased to support divine interVentures' emerging business model,'' said David Wetherell, Chairman and CEO of CMGI. ''It is highly synergistic with our own, yet does not overlap with the regions that are currently the focus of our own operations. We look forward to extending our reach and focus into the Midwest with divine interVentures' acquisition expertise, services and stable of growing companies.''
At the forefront of the Internet revolution, CMGI and @Ventures leverage both financial and intellectual capital to identify and develop the businesses leading the new economy. With an unparalleled track record and a unique business model that marries operations to investment, the combined firm manages and invests in more than 60 leading Internet companies spanning content, community, e-commerce and infrastructure disciplines.
About CMGI and CMGI @Ventures
With more than 60 companies, CMGI, Inc. (Nasdaq: CMGI - news) represents the largest, most diverse network of Internet companies in the world. This network includes both CMGI operating companies and a growing number of synergistic investments through its venture capital affiliate, CMGI @Ventures. CMGI leverages the technologies, content and market reach of its extended family of companies to foster rapid growth and industry leadership across its network, and the larger Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.
CMGI's majority-owned operating companies include Engage Technologies (Nasdaq: ENGA - news), NaviSite (Nasdaq: NAVI - news), 1ClickBrands, 1stUp.com, Activate.net, AdForce, Adsmart, AltaVista, CMGI Solutions, Equilibrium, Flycast, iCAST, Magnitude Network, MyWay.com, NaviNet, SalesLink, Tribal Voice and ZineZone. The company's venture capital affiliate, CMGI @Ventures, has ownership interests in Lycos, Inc. (Nasdaq: LCOS - news), Critical Path (Nasdaq: CPTH - news), Silknet (Nasdaq: SILK - news), Chemdex (Nasdaq: CMDX - news), MotherNature.com (Nasdaq: MTHR - news), Asimba.com, AuctionWatch.com, Aureate Media, blaxxun, BizBuyer.com, Boatscape.com, buyersedge.com, CarParts.com, CraftShop.com, eCircles.com, eGroups.com, EXP.com, FindLaw, FoodBuy.com, Furniture.com, Half.com, HotLinks, Industria, INPHO/HomePriceCheck.com, Intelligent/Digital, KnowledgeFirst, KOZ.com, Mondera.com, MyFamily.com, NextMonet.com, NextPlanetOver.com, Oncology.com, OneCore.com, PlanetOutdoors.com, Productopia, Raging Bull, SnapFish.com, Speech Machines, ThingWorld.com, Vicinity, Virtual Ink, Visto, Vstore and WebCT.
CMGI and CMGI @Ventures Corporate headquarters are located at 100 Brickstone Square, Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3814. CMGI @Ventures also has offices at 3000 Alpine Road, Menlo Park, CA 94028; 650-233-0333. Additional information is available on the company's Web sites at cmgi.com and ventures.com.>>
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This is VERY positive news, IMO....DELL and MSFT both have equity positions in Divine and I feel this investment is a very strategic one for DW and his team. Over the next few years it should generate SIGNIFICANT value for CMGI shareholders. It will also increase CMGI's exposure to the growing B2B sector. When Divine IPOs in early March Prudential may have to revise those 'conservative price targets' <VBG>...!!
Best Regards,
Scott
Best Regards,
Scott
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