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

To: Steven N who wrote (45018)	1/26/1999 10:33:00 AM
From: Steven N	Respond to of 97611

January 26, 1999 7:10 AM PT Compaq to spin off AltaVista Compaq will spend up to $60 million to promote the new company. By Margaret Kane, ZDNN Compaq Computer Corp. plans to spin off the company's AltaVista division as a separate company, hoping to capitalize on the boom in Internet e-commerce. Compaq (NYSE:CPQ) senior vice president Rod Schrock will become CEO of the new company, which will be based in Palo Alto, Calif. Compaq did not say when it planned to hold the IPO, or what value it would put on the company. Have an opinion on this story? Add your comments to the bottom of this page. "By establishing AltaVista as a separate company, it can better focus on providing the best user experience on the Internet, from search, to commerce, to communication and community," Compaq CEO Eckhard Pfeiffer said in a release. "We see this as a significant opportunity for Compaq to expand its share of the rapidly growing Internet market for content and services and also enables us to unlock the tremendous value of AltaVista for our shareholders." Internet stocks have been incredibly hot on Wall Street, with portal sites leading the pack. Piper Jeffrey analyst Ashok Kumar estimated that, based on page views, AltaVista could be valued between $2 billion and $5 billion. StevenN