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RealTime IT News

Internet Market Close Report for 1998.04.14

Market Close Snapshot

  14-Apr-98 % change point change
ISDEX 167.49 2.11% 3.46
ISDEX Price Weighted Composite 1,725.38 1.70% 28.81
NASDAQ 1,843.03 0.99% 18.08
DJIA 9,110.20 1.09% 97.90

  • Infoseek (NASDAQ:SEEK) agrees to acquire free home page web community WBS for 350,000 SEEK shares or about $6.7 million based on recent price. WBS counts 2.7 million members. That puts the deal at $2.48 per member. Mecklermedia's WebSite Value Index shows SEEK trading at more than $40 per user so it appears Infoseek got a fire sale price here. The buy puts Infoseek at 14 million monthly users.

  • Sportsline (NASDAQ:SPLN) reports record revenue for its first quarter, up 359% to $6.79 million while net losses also increased to $9 million from $6.23 million. Page views jump 383% vs. 1Q97 to an average 4.22 million page views per day, up 49% vs. 4Q97.

  • CheckPoint Software (NASDAQ:CHKPF) agrees to acquire Internet-address management developer MetaInfo Inc. for about $27.5 million or 683,200 shares. MetaInfo's products will be integrated into Check Point's leading firewall software solutions. Not quite the earth-shattering deal we expect from Check Point but one small step towards offering an integrated package perhaps?