 |
Breaking
eBusiness and Search News |
|
 |
Has The Sale Of Lycos Been Completed?
Terra Lycos, a Spanish Internet service provider, is in final talks to sell its U.S. based web portal to a South Korean company.
The Boston Business Journal reported yesterday, the sale to the unnamed Korean company was approved by the board, and that the company is asking $170 million. They reportedly received four bids. According to Battelle, the sale has gone through for an estimated $95 million.
In May 2000, the height of the dot-com craze, Terra Networks offered $12.5 billion for Lycos. Their offer was accepted, Telefonica chief executive Juan Villalonga, predicted the company would become a media powerhouse. In 2002 Terra Lycos wrote off all goodwill on the deal.
Lycos was put up for sale last April with a price tag of $170 million, according to zdnet.com.
Thanks to John Battelle at BattelleMedia.com for breaking this story.
Receive
Our Daily Email of Breaking eBusiness News
About the Author:
Jeremy Muncy is a staff writer for WebProNews.com
 WebProNews RSS Feed
More Articles
Contact WebProNews |
|
|
 eBUSINESS
RESOURCES |
|
|
 |
|
| About
WebProNews |
WebProNews is the number
one source for eBusiness News. Over 5 million eBusiness professionals read
WebProNews and other iEntry business and tech publications.
WebProNews provides real-time coverage of internet
business.
Free Email Newsletters:
|
|
|
|
