RealTime IT News

Go2Net Acqusition Spree Continues

In an effort to augment its HyperMart business hosting service, Go2Net, Inc. Thursday acquired Web hosting firm Virtual Avenue and business directory USA Online for $23 million in stock.

Under terms of the agreement, USA Online and Virtual Avenue will offer services under the newly redesigned HyperMart umbrella.

HyperMart provides a directory and hosting service for small- and medium-sized businesses looking to promote themselves on the Internet. The site has a reported 190,000 members, and Thursday's acquisition will add more than 85,000 new businesses to the service, according to the companies.

Go2Net has been on a shopping spree recently, last week announcing intent to acquire online auction site Haggle Online for use on the HyperMart site as well. Future plans for the site include adding shopping cart and turnkey commerce site-builder solutions, the firm said.

"The acquisition of Virtual Avenue extends HyperMart's position as the Internet's largest aggregation of small- and medium-sized businesses," said Russell C. Horowitz, Go2Net chief executive officer.

"USA Online's directory will also be of particular value in categorizing and providing improved access channels for our expanding base of businesses."

Go2Net's network of site also includes Silicon Investor, MetaCrawler and PlaySite.