Monday, 19 November 2018

Terra snaps up Lycos for $12.5 billion

By Jessica Hall, Reuters
Wednesday 17 May 00

Spanish Internet group Terra Networks SA agreed on Tuesday to buy U.S. Internet search company Lycos Inc. for $12.5 billion in stock, or $97.55 a share, in a move to create one of the world's largest Internet companies and broaden its geographic reach. Lycos' novel programming, as well as its youthful customer base, will help Terra turn its string of companies across Latin America and Europe into a World Wide Web powerhouse with more global reach, analysts said. Lycos also will allow Terra, the fast-growing Internet arm of Telefonica de Espana SA…

Spanish Internet group Terra Networks SA agreed on Tuesday to buy U.S. Internet search company Lycos Inc. for $12.5 billion in stock, or $97.55 a share, in a move to create one of the world's largest Internet companies and broaden its geographic reach. Lycos' novel programming, as well as its youthful customer base, will help Terra turn its string of companies across Latin America and Europe into a World Wide Web powerhouse with more global reach, analysts said. Lycos also will allow Terra, the fast-growing Internet arm of Telefonica de Espana SA…

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