InfoSpace, Inc. and Go2Net, Inc. announced late yesterday the completion of their merger.
Shareholders of both companies formally approved the merger agreement, which was initially announced on July 26, 2000.
The merger takes effect immediately. The merged company plans to focus on wireless and broadband infrastructure technologies, and position themselves to deliver an integrated platform of infrastructure services and applications for converging media
The new company assumes the InfoSpace, Inc. name, and is structured into four areas of focus: Wireless, Consumer, Merchant, and Broadband.
Under the merger agreement, InfoSpace will issue 1.82 shares of its common stock for each outstanding share of and option to purchase Go2Net common stock, and the combined company will trade as InfoSpace.
“We are very excited about completing our merger with Go2Net,” says
Arun Sarin, CEO of InfoSpace. “Not only are we marrying technologies and partnerships that will create the most robust, integrated platform of services in the industry, but we are also bringing together a world-class management team, which will accelerate the pace of our technology development and global distribution plans.”
As the completion of the merger passes, Arun Sarin will continue on in his role as CEO, in addition to heading the company’s wireless services.
Russell C. Horowitz is now president of InfoSpace, and will direct the company’s business operations and oversee the four business areas of focus.
John Keister, Go2Net president and co-founder, will serve as InfoSpace’s executive vice president of consumer services. InfoSpace veteran Chris Matty will serve as InfoSpace’s executive vice president of merchant services, while Michael Riccio, Go2Net chief operating officer, will assume the role of InfoSpace’s executive vice president of broadband services.