Big Bucks For
a Company That Hasn't Turned a Profit
If you are like me
you are still reeling from the purchase of ICQ, but just when you
thought history wouldn't repeat, here it is. Media company
Excite@Home (http://
www.home.net)
put an end to e-commerce solutions provider iMall
(http://www.imall.com)
stockholder's lament about Wall Street's lack of attention when it
announced that it would issue $425 million in stock to acquire the
company.
Excite@Home has
also announced an agreement with e-commerce transaction processor,
First Data Corporation to enable merchants to complete credit card
transactions. First Data is an 11 percent shareholder of
iMall.
The deals will
give Excite@Home a huge boost by adding merchants to it's current
shopping network in an effort to attract consumers, and will also
build-up the company's business-to-business e-commerce
solutions.
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