Sweden's EuroSeek Invest in Palm Reach
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EuroSeek, a search engine available in 50 different European languages, has acquired a 26 percent stake in wireless application protocol (WAP) portal company Palm Reach.
Uner the terms of the deal, Palm Reach content will now be included in offerings to EuroSeek's 1.7 million users.
EuroSeek hopes the move will establish the company as the source and portal for WAP-based wireless device users.
EuroSeek believes it can accelerate Palm Reach's expansion, and that Palm Reach will have much to contribute as the WAP market becomes strong, according to Bengt Hellsten, CEO of EuroSeek AG. EuroSeek also plans to adopt parts of its portal to WAP in cooperation with Palm Reach.