RealTime IT News

CNET Expands Tech Marketplace

CNET + Apollo Solutions, HomeSeekers.com + IRIS, LLC, Matrix Technology Groups + Lodgistics.com, SBE + LAN Media, Siebel Systems + MOHR Development

 CNET (CNET) acquires Apollo Solutions


   *  Amount:         $11 million


   *  Terms:            300,000 shares/$2 million cash


   *  Premium:        n/a


   *  Industry:        Content/Communities


   *  Scorecard:      B-


    SAN FRANCISCO, July 14--CNET Networks , the trusted source of information for buyers, sellers and suppliers, announced a new service to improve the efficiency of suppliers and sellers of technology products. As part of this channel initiative, CNET has acquired Apollo Solutions, which provides a Web-based application where Value Added Resellers, IT consultants and resellers can access real-time product information, pricing, and availability from multiple manufacturers and distributors, increasing the efficiency of the channel. CNET has completed the purchase of the remaining 80.1 percent for a combination of approximately $2 million cash and approximately 300,000 shares of CNET stock.