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Today's Deals: Move.com Moves Into Homestore.com

EntrePort + University.com, By Referral Only, HomeStore.com + move.com, Meteor Industries + Active IQ Technologies, Rediff.com India +ThinkIndia.com, Silverline Technologies + SeraNova, Winebusiness.com + Turrentine Wine Brokerage






 Meteor Industries (METR) to merge with Active IQ Technologies

 

   *  Amount:         Undisclosed

 

   *  Terms:            n/a
 

   *  Premium:        n/a

 

   *  Industry:        Performance software

 

   *  Scorecard:      C

 


    DENVER, Oct. 27--Meteor Industries announced it has entered into a non-binding letter of intent to merge with Active IQ Technologies. Active IQ is a privately held Minneapolis, Minnesota-based company that provides Internet infrastructure software services supporting immediate seamless integration solutions for business-to-business (B2B) ecommerce. Meteor will issue new shares of common stock and warrants to purchase additional shares to Active IQ shareholders in exchange for all of the equity of Active IQ, such that Active IQ shareholders will own approximately 50% of the merged company. Exact terms of the deal were not disclosed. Meteor Industries, Inc. is a leading distributor of refined petroleum products. In April, 2000, the company announced it would review strategic alternatives away from its historical business with the goal of enhancing shareholder value.

     



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