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Daum Communications To Buy Lycos
The top web site provider in South Korea, Daum Communications, is set to purchase Lycos, the US business of Spain's Terra Lycos for $95 million.
I first reported of the possible sale of Lycos last week, not too much was known about the deal. Daum Communications was mentioned numerous times as the possible buyer.
Daum has said it would pay over 100 billion, won for 100 percent of Lycos Inc., which Terra bought in an all-stock deal in May 2000, according to abcnews.com.
To this day Lycos still remains a force on the Internet, with Tripod, which allows users to build their own web pages, and news sites affiliated to technology magazine Wired.
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About the Author:
Jeremy Muncy is a staff writer for WebProNews.com
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