CNet Acquires Sumo for $28m.CNet Inc has acquired Sumo sumo: see wrestling. sumo Japanese form of wrestling.A contestant loses if he is forced out of the ring (a 15-ft circle) or if any part of his body except the soles of his feet touches the ground. Inc, an aggregator of directories of various internet firms for about $28.1m in stock. Sumo is better known under its InternetList.com domain and its various offshoots, including Web Host List and Ultimate ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. List. CNet says it will continue to support Sumo's efforts to cultivate the Web Host Guild, a non-profit group trying to establish standards in the web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. industry. The transaction involves the exchange of 230,000 CNet shares for all of Sumo's stock and will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . |
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