RealTime IT News

NBCi Snags B2B Destination

NBC Internet Inc. Wednesday made a move into the red-hot business-to-business sector with the purchase of AllBusiness.com.

The site targets small businesses and entrepreneurs, offering information on starting, managing and growing a business. It features expert advise as well as a variety of tools and information.

NBCi will pay $225 million in stock for the site. The deal is expected to close at the end of the first quarter.

AllBusiness.com will become a member of NBCi's ComFind business directory and Snap!'s Business Network. NBCi said Wednesday's acquisition is part of an ongoing plan to unveil more business-to-business initiatives.

"We believe AllBusiness.com will provide a particularly broad platform for which we can develop and integrate our ongoing opportunities," said Chris Kitze, NBC Internet's chief executive officer.

Leading the integration of AllBusiness.com into NBCi's existing assets will be Alan Braverman, president of its business-to-business division. Before joining NBCi, Braverman was one of Wall Street's most influential Internet analysts, serving at both Banc of America Securities and Deutsche Bank.