dcsimg
RealTime IT News

Lycos Gets Personal

Following a flurry of speculation that began late last week, Lycos Inc. confirmed Monday it was acquiring MetroSplash, owner of Matchmaker.com.

The purchase of the personal classifieds site is valued at about $44 million in cash, plus the assumption of matchmaker.com's stock option plan.

The purchase expands Lycos's offerings, increases the frequency and duration of visits to its network and adds to the company's overall revenues, according to Bob Davis, president and chief executive officer of Lycos.

"The acquisition will further strengthen our community offering and will be a great addition to our network of leading Web brands," Davis said. "With Matchmaker.com, Quote.com and Gamesville.com, the Lycos Network will own three of the stickiest sites on the Internet."

Matchmaker.com is designed to help foster relationships. The site is organized by metropolitan area and affinity groups, and each member fills out a comprehensive questionnaire and can upload pictures to the site.

Tools, including search, browsing, compatibility function, email and chat, are offered to help the user hone in on the people they want to get to know.

The acquisition is expected to close in Lycos's first fiscal quarter and is subject to the approval of Metrosplash's shareholders. Matchmaker.com will be relocated from Dallas to Lycos's Waltham, Mass., headquarters.

The purchase marks the latest in a string of deals executed in recent years by Lycos. Lycos itself is being acquired by Terra Networks of Spain in a multibillion-dollar transaction.