Automotive Information Center

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.

Facebook Comments

New comment


Captcha

Associated articles

Microsoft Gears Up for Longhorn With Developers

Developers are likely to get the most thorough look yet at its new features near the end of the month more »

Verizon Boosts 3G Data Service

Verizon Wireless gave a hefty boost to the speed of its 3G network Monday, when it launched BroadbandAccess, a broadband wireless data service more »

search.lt news

search.lt presents newest links more »

HP plans smaller scale utility data center

Hewlett-Packard Co. is planning to deliver a slimmed-down version of its Utility Data Center (UDC) aimed at mid-sized businesses and departmental users more »

E-Voting Passes Muster

Maryland election officials released a highly anticipated report Wednesday that examines the security of Diebold Election Systems' touch-screen voting machines more »

Microsoft's MSN to shut down

Microsoft Corp is shutting down Internet chat services in most of its markets around the world and limiting the service in the US more »

search.lt news

search.lt presents newest links more »

Virus Poses as Microsoft Security Patch

A new mass-mailing virus masquerading as a security patch from Microsoft is on the loose and anti-virus experts say it has the ability to steal account information and e-mail server details from infected systems more »

Sunrise Valley cluster

sunrisevalley.lt - Website of Lithuania’s Sunrise Valley Knowlegde Economy Cluster more »

Nine German cities poised to adopt Linux

Most major German cities giving open source 'serious thought' more »