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 »
A battle among hackers erupted on the Internet yesterday as some factions disrupted a loosely coordinated effort among other groups trying to vandalize Web sites around the world
more »
search.lt presents newest links
more »
It will no longer be possible for Danish companies to automatically employ foreign IT specialists as an exception to the ordinary strict rules on residence permits
more »
Europe's online population reached 184m by the end of 2002 and will surge beyond 200m by the end of 2004
more »
It is possible to expect that by the end of this year there will be over one million Internet users in Croatia
more »
Microsoft rivals have been staking out a claim to the identity management space -- a critical component of Web services
more »
search.lt presents newest links
more »
Internet overseeing organisation ICANN has backed down in its battle with the rest of the world
more »
Deutsche Bank S.p.A Italy Augments Service and Profitability via ACI's BASE24-es Software
more »
search.lt presents newest links
more »