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 »
NOKIA: TheFeature.com launches new, innovative mobile information services at CeBIT 2003
more »
When impostors are arrested, victims get criminal records
more »
search.lt presents newest links
more »
Interbank payments network Swift is likely to be the primary beneficiary of FIX uptake by European securities firms, according to a survey conducted by London consultancy City IQ.
more »
Visa is to require merchants to display only the last four digits of a credit card number on receipts in a bid to combat a rising tide of financial identity crime
more »
A Norwegian court has approved prosecutors' appeal of a teenager's acquittal on charges that he created and circulated online a program that cracks the security codes on DVDs
more »
Fraudsters pose as employers to steal job-seekers' personal details
more »
IDC has estimated that just 5 percent of U.S. businesses in 2002 had completed a Web services project. But by 2008, the research firm said, 80 percent of firms will have such a project under way.
more »
The credit card industry focuses too much on reducing its own fraud costs and not enough on protecting consumers
more »
PC chipmakers Intel and Advanced Micro Devices this week enacted their first sweeping desktop processor price cuts of the year
more »