RealTime IT News

Today's Deals: E-Financial Services Firms Get the Urge to Merge

GlobalNetFinancial.com + Telescan, Stockscape.com + Silverback Communications

 GlobalNetFinancial.com (GLBN) to merge with Telescan (TSCN)


   *  Amount:         $332 million


   *  Terms:            100% stock

   *  Premium:        275%


   *  Industry:        Content/Communities


   *  Scorecard:      B-


    SANTA MONICA, Aug. 17--GlobalNetFinancial.com and Telescan announced they have signed a definitive merger agreement. The combination will form a vertically integrated, world class, global B2B and B2C "clicks and mortar" Money & Finance Internet company and will boast one of the Internet's most extensive footprints in finance. The combined company will be named GlobalNetFinancial.com. Under the terms of the Agreement, each share of Telescan will be exchanged for = share of GlobalNetFinancial.com, valued at approximately $332 million.



 Stockscape.com (STKSF) to acquire Silverback Communications


   *  Amount:         $550,000