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 »
The indictment of Dmitry Sklyarov on Tuesday was just a first -- and predictable -- move in what may be a long legal chess game, experts say.
more »
Advanced Micro Devices Inc. (AMD) has slashed chip prices for the second time in as many weeks.
more »
The UK Government wants to develop meaningful online relationships with the British public.
more »
search.lt presents newest links
more »
Human rights activists and friends of a Chinese Webmaster accused of subversion say the 38-year-old was back in court this week to continue a trial that was cut short in February when he fainted in a Chengdu, Sichuan province, courtroom.
more »
Wireless Networks in Big Trouble
more »
Hong Kong police have arrested two men allegedly linked to an Internet scam that has cheated money out of 22 companies around the world.
more »
A minimum of eight servers operated by America Online's Netscape Communications division have been infected with the Code Red worm, according to independent intrusion monitoring services.
more »
A television channel aimed at delivering programming to wireless handhelds was launched Friday.
more »
The long-running feud between Sun Microsystems and Microsoft gained new intensity today as Microsoft retaliated against a series of full-page advertisements placed in major daily newspapers last week.
more »