Monday Merger Mania

 Hi/fn (HIFN) acquires Apptitude

  
* 
Amount:         $42
million

  
* 
Terms:           
cash and stock

  
* 
Premium:        1.2 million
shares/$20 million cash

  
* 
Industry:        Internet
services

  
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Scorecard:      B

LOS GATOS, May 15–Network security company Hi/fn announced 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.




 

 TMP Worldwide (TMPW) acquires
VirtualRelocation.com

  
* 
Amount:         $56
million

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

  
* 
Premium:        n/a

  
* 
Industry:        Internet
services

  
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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.




 

 Razorfish (RAZF) acquires Limage
Dangereuse

  
* 
Amount:        
Undisclosed

  
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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.




 

 MedicaLogic, Medscape and Total eMed shareholders
agree to merge

  
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Amount:         n/a

  
* 
Terms:           
n/a

  
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Premium:        n/a

&nbsp

; 
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Industry:       
Content/Communities

  
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Scorecard:      C+

HILLSBORO, May 15–Shareholders of MedicaLogic and Medscape approved 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.




 

 Wit Capital (WITC) acquires E*Trade’s (EGRP)
E-Offering

  
* 
Amount:         $328
million

  
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Terms:           
32 million shares

  
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Premium:        n/a

  
* 
Industry:        Financial
services

  
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Scorecard:      A-

NEW YORK, May 15–Wit Capital Group said
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.




 

 Enron (ENE) acquires WarpSpeed
Communications

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
* 
Industry:       
Speed/Bandwidth

  
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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.




 

 ePresence (BNYN) acquires SND

  
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Amount:         $30.5
million

  
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Terms:           
221,713 shares/$17.5 million cash

  
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Premium:        n/a

  
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Industry:       
Consultants/Designers

  
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Scorecard:      C+

WESTBORO, May 15–ePresence announced 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.




 

 AppliedTheory (ATHY) acquires Cordada
Group

  
* 
Amount:         $16
million

  
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Terms:           
100% stock

  
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Premium:        n/a

  
* 
Industry:       
Consultants/Designers

  
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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.




 

 E Com Ventures (ECMV) acquires
perfumania.com

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
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Industry:        E-tailers

  
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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.




 

 PopMail.com (POPM) to acquire Fan
Asylum

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
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Industry:        Internet
services

  
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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.




 

 Politics.com (POCO) merges with LobbyForMe.com,
PoliticalWag.com

  
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Amount:        
Undisclosed

  
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Terms:           
n/a

  
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Premium:        n/a

  
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Industry:       
Content/Communities

  
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Scorecard:      B+

TEMPE, May 15–Webby Award Winner, Politics.com announced 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.




 

 Save.com acquires MyCoupons.com,
DirectCoupons.com

  
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Amount:         $23
million

  
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Terms:           
cash + marketing

  
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Premium:        n/a

  
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Industry:       
Content/Communities

  
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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 .