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Technology Stocks : CyberCash a buy? -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (636)	3/17/1998 9:01:00 PM
From: Secret_Agent_Man	Respond to of 3990

The combined cos., will control well over half of the emerging market for secure Internet payment systems, they said. The combined company will continue to offer the separate product lines of the two companies, they said. However, the company plans to tightly integrate the CyberCash's Internet offerings with ICVerify's products, the officials said. *The companies said the merged companies will look to partner with banks seeking to offer Internet payment capabilities to their customers.* They said no layoffs were planned. CyberCash has 230 employees. ICVerify has 100. A handful of CyberCash staff in Redwood City, Calif., will be asked to relocate to ICVerify's headquarters in Oakland. CyberCash Chief Executive Officer Bill Melton said the deal requires no shareholder approval. He said the CyberCash board had indicated its informal backing for the deal and will be asked to vote on the final deal in May, when the merger is expected to close. He said that any impact of the merger on CyberCash earnings would be minimal. ' ''We have built the business on kind of an undying faith that electronic commerce would take off,'' Melton said. Pointing to the latest signs that commerce over the Internet is gaining acceptance in the mainstream business world, Melton said that, ''By the time we get to the end of this year, we think we will have hit the take-off stage.'' bg