It's spin city in Internet land

Article Abstract:

Sofware giant Microsoft Corp has announced its plans to spin off some its Internet businesses. The company said that its Web sites have failed to produce profits, and were just part of its strategy to show how its software technology made electronic transactions possible. Microsoft will instead focus on licensing its technology to partners. The company's Web sites are the third most visited of all Internet sites.

Asset sales & divestitures, Microsoft Corp.

---

Tycoon pours up to $750M into Go2Net

Article Abstract:

Online company Go2Net has received $750 million from Microsoft co-founder Paul Allen that covers $300 million in cash and the acquisition of five million shares of the emerging Internet site at $90 per share. Allen sees a strong potential in integrating Go2Net with his growing cable television business. Go2Net has emerged as one of the market's top 25 online service providers.

Receipt of funds, Go2net Inc.

---

Similar abstracts:

• Abstracts: New services raise Internet stakes. Excite buys IMall in all-stock deal. Excite launches on-line auction system
• Abstracts: Retailers hike into the wilderness business. Tim Hortons rrrolls up a winner. High-level shakeups hit two hot ad agencies
• Abstracts: Language law foils Bell Advantage. Bell expects Internet access sale to AOL Canada
• Abstracts: Imperial Life in talks on Bay financial boutiques. Manulife settles class action suits in Ontario, BC
• Abstracts: Auto parts giant faces bumpy ride as business starts to vanish. Tesma executive bonuses rise between 10%-32%

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.