Gateway Takes $200 Million Stake In CMGI
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Computer maker Gateway Thursday announced it was taking a $200 million stake in Internet incubator CMGI Inc. as part of a broader strategic alliance that calls for the two to collaborate on business and investment opportunities on the Internet.
The companies said the alliance will enhance Gateway's Internet and e-commerce initiatives and expand the line of products available to Gateway customers. Gateway will market products and services throughout CMGI's Internet holdings.
"Gateway's vision and leadership in the PC market is a natural complement to our leadership in the Internet arena. Similarly, our expertise in interactive marketing, infrastructure and community building support Gateway's goals to increase their market share in both the consumer and business arenas," said David Wetherell, CMGI's chairman and chief executive officer.
Gateway Chairman and Chief Executive Officer Ted Waitt said the alliance is a natural since both companies share a common vision on the future of the Internet.