RealTime IT News

Internet Market Close Report for 1998.03.12

ISDEX & Market Moves Snapshot

  12-Mar-98 % change point change
ISDEX 145.79 0.64% 0.93
ISDEX Composite 1,111.47 -0.31% -3.50
NASDAQ 1,764.06 0.41% 7.21
DJIA 8,659.56 -0.19% -16.19

  • CMG Info (NASDAQ:CMGI), (which really should consider chaning its name to @Ventures due to its venture focus), acquires Accipiter, which does Internet advertising management solutions, for $35 million in CMG shares. We estimate the deal at 7x - 10x sales, although details were not disclosed. CMG will merge Accipiter with Engage to create a marketing and ad firm.

  • Netscape (NASDAQ:NSCP) wants to exapand its Netcenter site once again to be more of an online service, turning it into a rival to Yahoo, Excite, Lycos, AOL, and Microsoft's forthcoming Start service. As long as Navigator is used Netcenter may be a growing concern. But with Microsoft plastering the universe with free browsers it's killing this space rapidly. Look at what it did to Spyglass (NASDAQ:SPYG).

    Of course MSN has not been the AOL killer it wanted to be, so even the best laid plans don't often make it to critical mass.

    Steve Harmon invites you to meet the movers & shakers of venture capital live in Los Angeles at Spring Internet World's Business Forum, Capital Connections session, Thursday, March 12. Where deals, dollars and decisions come together. click here and SIGN UP NOW, space limited!