About.com Buys Web Hosting Company
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Live-guide online network About.com Inc. Tuesday added Web hosting and development to its line of services with the acquisition of North Sky Inc. in a stock deal worth approximately $23 million.
North Sky operates freeservers.com, which provides Web site development tools and is a hosting network for thousands of Web sites.
About.com (BOUT) will acquire North Sky for 500,000 unregistered shares of common stock. North Sky will remain an independent subsidiary of About.com and will continue to focus on the tools development and hosting needs of the Internet industry at large and About.com, specifically, the firms said.
While primarily a network of content resources for consumers, adding tools for Web developers is part of the company's strategy to build its services for businesses.
About.com offers categories maintained by live guides designed to provide comprehensive information on a certain subject. Categories include news, sports, finance, shopping, family, computing, education, entertainment and travel.