Monday Merger Mania

  
* 
Amount:         $42
million

  
* 
Terms:           
cash and stock

  
* 
Premium:        1.2 million
shares/$20 million cash

  
* 
Industry:        Internet
services

  
* 
Scorecard:      B

• 
  
• 
  LOS GATOS, May 15–Network security company Hi/fnannounced plans to acquire Apptitude, which provides
  Internet traffic analysis for developers of network infrastructure devices,
  for around $42 million in cash and stock. Los Gatos-based Hi/fn said it would exchange around 1.2
• million shares of its common stock and $20 million in cash for
  privately-held Appitude.
• 
  
•  

  
* 
Amount:         $56
million

  
* 
Terms:           
947,916 shares/$726,000 cash

  
* 
Premium:        n/a

  
* 
Industry:        Internet
services

  
* 
Scorecard:      B+

• 
  
• 
  NEW YORK, May 15–TMP Worldwide, provider
  of global recruitment solutions including the dominant Internet career
  portal, Monster.com, and the world’s largest Yellow Pages
  advertising agency today announced the acquisition of
  VirtualRelocation.com. This acquisition will serve TMP as the
  cornerstone of a new Moving Center that will be integrated into the Monster.com homepage. TMP has issued
  947,916 shares of common stock for all of the outstanding shares of VirtualRelocation.com and has
  paid approximately $726,000 to certain shareholders who chose to receive
  cash in lieu of shares. In addition, outstanding options to acquire Virtual
  Relocation common stock were converted into options to acquire up to 94,885
  shares of TMP common stock.
  
• 
  The acquisition of VirtualRelocation.com and TMP’s creation of the new
  Moving Center extends the Monster.com online recruitment brand into the
  moving services marketplace.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:       
Consultants/Designers

  
* 
Scorecard:      C+

• 
  
• 
  AMSTERDAM, May 15–Razorfish, the global
  digital solutions provider announced the acquisition of Limage
  Dangereuse, the award winning visual communications agency based in
  Rotterdam. Razorfish established its
  presence in the Netherlands last year, and has rapidly grown its Amsterdam
  office to over 50 people. The combination with Limage Dangereuse will increase
  its headcount to nearly 70 people.
• 
  
•  

  
* 
Amount:         n/a

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

; 
* 
Industry:       
Content/Communities

  
* 
Scorecard:      C+

• 
  
• 
  HILLSBORO, May 15–Shareholders of MedicaLogicand Medscapeapproved the merger of
  the two companies at special meetings held earlier today. The merger is
  expected to be completed by May 22, 2000 and will trade on the NASDAQ
  National Market under the symbol MDLI.
  
• 
  The proposed transactions, announced on February 22, will create
  MedicaLogic/Medscape, bringing together MedicaLogic, the nation’s leading
  provider of online health records; Medscape, the premier source of
  authoritative health, news and medical information on the Internet; and Total eMed, the first provider of
  Web-based transcription services designed for ambulatory care physicians.
• 
  
•  

  
* 
Amount:         $328
million

  
* 
Terms:           
32 million shares

  
* 
Premium:        n/a

  
* 
Industry:        Financial
services

  
* 
Scorecard:      A-

• 
  
• 
  NEW YORK, May 15–Wit Capital Groupsaid
  it would buy rival online investment bank E-Offering for $328
• million in stock, signaling consolidation in the Internet-based financial
  services industry. Wit Capital will
  issue 32 million shares for the acquisition. E-Offering’s major shareholder, No. 2
  U.S. online brokerage E-Trade Group, will book a
  $50 million gain on the deal, which is expected to close in the third
  quarter, according to E-Trade officials.
  
• 
  As part of the transaction, E-Trade of
  Menlo Park, Calif., will buy the retail brokerage arm of Wit Capital’s Wit
  SoundView division, which has about 100,000 accounts, and also buy 2
  million Wit shares, worth $20.5 million. This would give E*Trade’s 2.6
  million customers access to research and the opportunity to buy new stock
  issues. Wit would become E*Trade’s source for new and follow-on stock
  offerings.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:       
Speed/Bandwidth

  
* 
Scorecard:      A-

• 
  
• 
  HOUSTON, May 15–Enron Broadband Services, a wholly owned
  subsidiary of Enron Corp., announced the
  acquisition of WarpSpeed Communications, a provider of on-demand
  switched connectivity to business enterprises. The WarpSpeed acquisition is being made
  within Enron Broadband Services’ current
  capital expenditures and financial plan. WarpSpeed, a Pleasanton,
  Calif.-based company comprised of 55 employees, now operates as a division
  of Enron Broadband Services.
• 
  
•  

  
* 
Amount:         $30.5
million

  
* 
Terms:           
221,713 shares/$17.5 million cash

  
* 
Premium:        n/a

  
* 
Industry:       
Consultants/Designers

  
* 
Scorecard:      C+

• 
  
• 
  WESTBORO, May 15–ePresenceannounced the
  acquisition of SND, Inc., a highly complementary addition to its
  rapidly growing e-services business. SND, a privately owned company located in
  Clark, New Jersey which delivers Customer Relationship Management
  solutions. By combining these capabilities with ePresence’s web design, development and
  infrastructure services, the company offers an ideal portfolio of
  Internet-based solutions for clients seeking to build highly personalized
  relationships with their customers, business partners and employees.
  
• 
  The acquisition was completed for total consideration of $30.5 million,
  consisting of $17.5 million in cash, 221,713 shares of ePresence common
  stock and a one-year earn-out of $10.0 million contingent on performance.
  ePresence, Inc., formerly Banyan Worldwide, has reserved the NASDAQ stock
  ticker symbol EPRE. The Company expects to change its symbol from BNYN to
  EPRE by June 15, 2000.
• 
  
•  

  
* 
Amount:         $16
million

  
* 
Terms:           
100% stock

  
* 
Premium:        n/a

  
* 
Industry:       
Consultants/Designers

  
* 
Scorecard:      B-

• 
  
• 
  NEW YORK, May 15–AppliedTheory, a
  provider of end-to-end e-Business Solutions, announced that it has reached
  an agreement to acquire the privately-held Cordada Group, a
  Seattle-based e-Business Solutions firm. AppliedTheory has agreed to
  purchase Cordada for approximately $16
  million in stock. The company expects the acquisition to close within the
  next thirty days.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:        E-tailers

  
* 
Scorecard:      C

• 
  
• 
  MARLBORO, May 15–Envision Development Corporation, the emerging leader in Web-centric transactive technologies and
  eBusiness solutions, announced that the company has sold its wholly owned
  subsidiaries, perfumania.com
  and PostaCard.com, to E
  Com Ventures. E Com Ventures already owns
  approximately 270 brick-and- mortar stores through its wholly owned
  subsidiary, Perfumania Marketing. The terms of the transaction are not
  being disclosed at this time.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:        Internet
services

  
* 
Scorecard:      C-

• 
  
• 
  DALLAS, May 15–PopMail.com, a
  permission- and affinity-based content and e-mail marketing company,
  announced it has signed a letter of intent to acquire San Francisco-based
  Fan Asylum, which manages fan clubs for 14 bands and solo artists,
  including Aerosmith, Whitney Houston, Lenny Kravitz and Nsync, in an
  all-stock transaction. PopMail.com did
  not dislose the terms of the Fan
  Asylum acquisition.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:       
Content/Communities

  
* 
Scorecard:      B+

• 
  
• 
  TEMPE, May 15–Webby Award Winner, Politics.comannounced an agreement in principal to merge with
  LobbyForMe.com. LobbyForMe
  recently acquired Politics1.com and has
  reached an agreement to acquire PoliticalWag.com. Politics.com is aggressively seeking
  other mergers or acquisitions toward its overall goal of building a one
  stop portal for politics. The company plans to integrate all technology
  under the Politics.com domain name.
• 
  
•  

  
* 
Amount:         $23
million

  
* 
Terms:           
cash + marketing

  
* 
Premium:        n/a

  
* 
Industry:       
Content/Communities

  
* 
Scorecard:      n/a

• 
  
• 
  PITTSBURGH, May 15–DirectStuff.com, an online advertising
  firms, announced today the sale of two of its Web sites,
  MyCoupons.com and DirectCoupons.com to Save.com for a
  two-year cash and marketing alliance valued at $23 million. MyCoupons.com is a consumer site that
  provides coupons, while DirectCoupons.com is a weekly email
  publication. DirectStuff.com will
  continue to manage both sites, as well as Save.com’s Web site, an online distributor
  of consumer packaged goods coupons whose primary investor is coupon
  industry giant Valassis Communications.
• 
  
•