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 »
Lindows.com, the Linux operating system maker, is being forced to re-evaluate its strategy to lure the average computer user away from Windows
more »
Threats of terrorism concern IT professionals, and almost half of those surveyed indicated that a major cyber attack on the U.S. government could be imminent
more »
search.lt presents newest links
more »
If a user wearing the system's security token walks away from his or her laptop, the system senses it and begins securing the computer by encrypting all data
more »
Iraq and Russia are close to signing a US$40 billion economic cooperation plan, Iraq's ambassador said Saturday
more »
search.lt presents newest links
more »
Russian figure skating champions Anton Sikharulidze and Yelena Berezhnaya have voiced their intention to sue US media companies for libel
more »
Microsoft has released a patch for three vulnerabilities, one of which is "critical," in its Content Management Server 2001 product for building and maintaining Web sites.
more »
The Defense Department's Biometrics Management Office (BMO) and the Army's Communications-Electronics Command (Cecom) are partnering to test the integration of fingerprint technology into the Army's tactical Network Operations Center-Vehicle
more »
ParallelGraphics Joins Forces with Leading Technology Companies to Establish the CAD 3D Working Group
more »