Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: silversoldier a/k/a SI Sy who wrote (20319)	7/27/2000 12:37:46 AM
From: KLP	Respond to of 28311

The Seattle Times tonight (well 7/26/2000 at 6:PM): king5.com Mega-merger for two Seattle Internet companies July 26, 2000, 06:15 PM SEATTLE – InfoSpace Inc. and Go2Net Inc., two of the Internet's biggest software service providers, announced plans for a $2.7 billion merger Wednesday. RESOURCES • Go2Net • InfoSpace The deal would create a single company that provides infrastructure for electronic commerce, high-speed Internet access and wireless Web technologies. Under the agreement, InfoSpace will issue 1.82 shares of InfoSpace common stock for each share of Go2Net common stock. The transaction has been approved by both companies' boards, but must still be approved by InfoSpace and Go2Net shareholders. The merger is expected to close in the fourth quarter of 2000, subject to shareholder and regulatory approval. Go2Net closed down $1.561/4 at $60.561/4, while InfoSpace closed up $1.433/4 to $47.75, both on the Nasdaq Stock Market. The merger was announced after the close of trading. InfoSpace provides software for e-commerce and other services – such as maps, phone directories and e-mail – for many of the Web's most popular sites. The company has also been heavily involved in providing Internet services for cell phone users, working with Verizon Wireless and SBC Communications. Go2Net has been successful with consumer software, such as its multi-player gaming platform, search engine and other popular Internet technologies. The company also creates Web sites for small businesses and offers credit card authorization services for e-commerce. "The next big growth area for InfoSpace is the delivery of our platform of services over broadband, enabling today's unified communications companies to deliver one integrated user experience across all devices and all networks," said InfoSpace chairman Naveen Jain, who will remain chairman of the merged company. "By integrating these two companies, InfoSpace will be uniquely positioned to speed the development of the interactive medium from wireless to DSL to broadband." Current InfoSpace chief executive officer Arun Sarin will become vice-chairman and CEO of the combined firm, while Go2Net chairman and CEO Russell Horowitz, will serve as vice-chairman and president. "Now is the time to create a company that will be the leading provider of mission-critical infrastructure technologies in the wireless, narrowband and broadband worlds," Horowitz said. "InfoSpace and Go2Net are creating the next-generation infrastructure company, with a differentiated strategic vision and business model." Major investors, such as billionaire Paul Allen and the two companies' founders, have already agreed to approve the agreement, meaning that 40 percent of the outstanding shares are already behind the merger.

To: silversoldier a/k/a SI Sy who wrote (20319)	7/27/2000 12:46:09 AM
From: sandintoes	Read Replies (1) \| Respond to of 28311

Silver Tongue Devil, It is very hard to act effervescent and jovial about this take over. I know some people talked about a take-over of GNET on this thread, but I thought it was part of a prolonged attack but some of the abrasive people who have crossed this thread from time to time. However, if enough good people, whom I do trust, keep saying it is a good thing, then I must force myself to accept the inevitable with a demeanour fitting the "Mother of the Bride"...but does that mean that I have to like the groom? "What's in a name?" Evidentially not much, but would it be as sweet? Should we all go over to the conquering heros, and tell them "Hello"? Do you think they would be prepared to meet the trillionaires? Another one bites the dust!

To: silversoldier a/k/a SI Sy who wrote (20319)	7/27/2000 3:42:57 AM
From: Roger Sherman	Read Replies (1) \| Respond to of 28311

Hi Sy! It's been a long time since we talked. I guess the shark ladies call you the "Silver-Tongue-Devil," although the last time I saw you, your tongue didn't look silver at all. More wine-red (or was that beer-brown), I just can't remember. At least next year the "longs' will have a shareholder's meeting in the same general area, only just a short "hop-skip-and-a jump jog (or bike ride) across the lake. We'll still have a good time. But now we'll have this Chairman guy named Naveen Jain to deal with. Apparently he only works about 20 hours per day, and is only worth 1 billion so far, although he did "dump" about 2% of his shares this past year. He probably felt he needed a few hundred million in petty-cash on hand. Perhaps he needed to remodel his kitchen, buy a major portion of Mercer Island...or whatever. I guess he use to work for some company called Microsoft (for about 7 years), until he went out on his own with this little start-up called InfospaceDotCom (they've recently dropped the DotCom part, thinking it wasn't cool anymore). Then we have the current CEO of INSP, Arun Sarin, who use to be the CEO of the US/Asia Pacific Region of Vodaphone/Airtouch. According to that Naveen guy, when he hired Arun, "You hire a guy who's even smarter than you are, and let him work 20 hours per day also." Then you have our old brilliant buddy Russ being added to the new "team," who will be the President of the "merged" company. Funny thing is...behind the scenes or this whole deal is a real quiet and pretty smart guy, who's net worth more than many small countries. He goes by the name Paul, and has a real cool guitar collection. It just doesn't seem fair to me, to have this many really smart guys in just one company. The Justice Dept. may declare that they have some sort of "monopoly" on intelligence, and sue to break up the company based on "too many brains per square foot." This whole thing could be big. I mean really huge. But I could be wrong, so do your own DD, and "diversify." <g> Roger PS. Pretty quiet thread tonight, so maybe I should short this whole thing, and buy pork bellies futures or something <g>

To: silversoldier a/k/a SI Sy who wrote (20319)	7/27/2000 8:44:47 AM
From: The O	Read Replies (2) \| Respond to of 28311

Well... I need to see the katuba before I agree to this marriage. My first thought was "Where's the premium?" GNET has made some brilliant investments in companies providing infrastructure along with their buddy PA. I think that the potential gains in stock value as a result of those investments is not yet reflected in the stock price. In my opinion, INSP is getting a steal, and now that it is trading at 37 I think we are getting screwed on the price. Obviously, I think the two companies fit together very well. The combined company should do very well, but the chart of INSP makes me a little nervous. I have full faith in the "Messiah," but the jury is still out on the new guys. I hope that Russ gets to do most of the talking on behalf of the new company, because that other guy talks kinda funny (redneck opinion). I worry about the Gits though. Little O is pissed about the merger. Not sure what that means. Hope he gits to go to college. O