Autoweb buys car-info site.
Published:
24 September 1999 y., Friday
Autoweb.com, an Internet car-shopping service, agreed to buy the automotive-data unit of Canada_s Thomson for $20 million in cash and stock to add services such as repair guides to its site. Autoweb agreed to pay $16 million in cash and $4 million in common stock for Automotive Information Center. The Westborough, Massachusetts-based unit will continue as a separate operation under its current management, Autoweb said. Automotive Information Center provides new-car pricing information online, descriptions of standard and optional equipment, and repair and trouble-shooting guides. The purchase will improve Autoweb_s database and help it attract more people to its site, said chief executive Dean DeBiase. Rival Autobytel.com in July agreed to buy the publisher of Chilton auto-repair manuals for $17.5 million to offer customers a way to price auto repairs.Through yesterday, the Santa Clara, California-based company_s shares had fallen 78 percent since its March initial public offering, as automakers and dealership groups have moved into e-commerce.
Šaltinis:
Bloomberg News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Software company announced new structure_ of it_s business.
more »
search.lt presents newest links
more »
Expert says it will take a new attitude to squash spam, wire your washer, and identify the next IM
more »
Linux desktop vendors Xandros and Linspire (also known as Lindows) are offering more desktop software for less, and, in the case of Xandros, for nothing
more »
“Penki kontinentai” implements the first
unique project of electronic school in
Lithuania. This project must change
collaboration between teachers and students improve expedition, information
search and change such a negative view of school in general.
more »
Microsoft Corp.'s plans for a common set of services that promise its server platform products will work better together are being met with skepticism.
more »
Among the eight new chips will be Intel's first workstation processors with 64-bit extensions technology
more »
Information overload will drive e-mail into the ground unless software vendors act now and make major changes to the 30-year-old technology
more »
Four 64-bit chips with fast cache join Athlon family.
more »
Sony is scaling back its Clie handheld line and will bow out of the U.S. and European markets for PDAs
more »
In its second year, show improves in size and focus
more »