Lycos Sells Quote.com to Interactive Data Corporation for $30 Million
February 02 2006 - 12:11PM
PR Newswire (US)
Transaction Allows Lycos to Focus on Core Strategy Moving Forward
WALTHAM, Mass., Feb. 2 /PRNewswire-FirstCall/ -- Lycos, Inc.
(http://www.lycos.com/), a media destination for creators and
consumers of quality content, yesterday announced the sale of its
finance site Quote.com(R) (http://www.quote.com/) to Interactive
Data Corporation (NYSE:IDC), a leading global provider of financial
market data and analytic tools to institutional investors, active
traders and individual investors. On February 1, 2006, Interactive
Data entered into a definitive agreement to acquire Quote.com and
related assets from Lycos, Inc. for $30.0 million in cash. The
acquisition is expected to close during the first quarter, subject
to customary closing conditions including governmental approvals.
Upon completion of the transaction, the assets of Quote.com will be
operated as part of Interactive Data's eSignal division. "Quote.com
has become an industry leader in providing premium
subscription-based charting and analysis tools, and considered to
be one of the leading brands of the Lycos Network," said Alfred
Tolle, chief executive officer, Lycos, Inc. "Over the past year,
however, we have evolved our business to focus on digital content
creation, as a destination for people to create, store and market
content. It became evident that Quote did not fit this strategy and
we began looking at a suitable, qualified partner for Quote." Since
joining the company in 2005, Tolle has defined a new direction for
Lycos, as a digital media platform for content creators, and a
destination for consumers with appetites for all types of content,
from professional to amateur, to niche content and beyond. "The
Lycos brand continues to resonate with millions of web users all
over the world, and my goal has been to focus on our assets and to
reinvigorate the Lycos brand," Tolle added. Lycos' digital
publishing strategy focuses on the core strengths of the company,
specifically award-winning, original content from Wired News
(http://www.wired.com/), premier web publishing and hosting
services and blogging tools from Tripod (http://www.tripod.com/)
and Angelfire (http://www.angelfire.com/), and its recently
launched social networking platform, Lycos Planet
(http://planet.lycos.com/). Planet is the first imported product
from Daum, a leading internet portal in Korea and parent company of
Lycos, Inc., adapted for the U.S. audience on Lycos. Since its
launch in October, a new Planet is created every minute on Lycos,
with more than 1,000 new registered users joining Planet each day.
In the coming weeks, Lycos will introduce its new games destination
-- Lycos Games -- and enhance its recently relaunched Lycos
Entertainment and Lycos Music destinations, with exclusive content
and service partnerships, designed to revolutionize the way people
create and consume content online. About Lycos, Inc. Lycos, Inc.
(http://www.lycos.com/) is a wholly owned subsidiary of Daum
Communications Corp., a leading Internet portal and e-commerce
destination in Korea with a growing presence throughout the Asian
markets. Lycos, Inc. creates and operates search, community and
technology lifestyle sites including Lycos.com, Hotbot.com,
Wired.com, Tripod.com, Angelfire.com and Quote.com. Other Lycos
products and sites include Lycos Mail, Gamesville and GetRelevant.
Lycos was acquired by Korean Daum Communications Corp. in October
2004 and has its U.S. headquarters in Waltham, Massachusetts. Daum
Communications Corp. is traded on the KOSDAQ: 035720,
http://www.daum.net/. About Interactive Data Corporation
Interactive Data Corporation is a leading global provider of
securities pricing, financial information, and analytic tools to
institutional and individual investors. The Company supplies
time-sensitive pricing (including evaluated pricing), dividend,
corporate action, and descriptive information for more than 3.5
million securities traded around the world, including hard-
to-value instruments. Many of the world's best-known financial
services and software companies subscribe to the Company's services
in support of their trading, analysis, portfolio management, and
valuation activities. Interactive Data Corporation is headquartered
in Bedford, Massachusetts. Through its branded businesses, FT
Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive
Data Corporation has approximately 2,100 employees in offices
located in North America, Europe, Asia, and Australia. Pearson plc
(NYSE:PSO), an international media company, whose businesses
include the Financial Times Group, Pearson Education, and the
Penguin Group, owns approximately 62 percent of the outstanding
common stock of Interactive Data Corporation. The FT Interactive
Data business includes FT Interactive Data Corporation, a Delaware
corporation. The ComStock business includes ComStock, Inc., a New
York corporation About eSignal: The eSignal division
(http://www.esignal.com/) of Interactive Data Corporation is a
leading global provider of financial and business information to
professional and active individual investors. Building on a 20-year
legacy of delivering time-sensitive financial information, eSignal
provides streaming, real-time market data, news and analytics.
eSignal's suite of products includes eSignal(R), Advanced GET(TM),
QuoTrek(R), FutureSource(R), MarketCenter(TM), and MarketCenter
LIVE(TM). Lycos(R) is a registered trademark of Lycos, Inc. All
other product or service marks mentioned herein are those of Daum
Communications Corp., Lycos, Inc. or their respective owners. All
rights reserved. Contacts: Kathy O'Reilly Lycos, Inc. 781-370-2853
Kathy.O' First Call Analyst: FCMN Contact: DATASOURCE: Lycos, Inc.
CONTACT: Kathy O'Reilly of Lycos, Inc., +1-781-370-2853, Kathy.O'
Web site: http://www.lycos.com/
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