Lycos Takes Ownership Position in GlobeComm; GlobeComm's Free e-mail, iName, Integral to Lycos Service.WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 1998--Lycos, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LCOS (Liquid Crystal on Silicon) A technology used to make microdisplays for rear-projection TVs and head-mounted displays (HMDs). Each LCoS chip hosts a grayscale LCD shutter sandwiched between a cover glass and a mirror. ), "Your Personal Internet Guide," today announced its exercise of a 1997 option to purchase one million shares of stock in GlobeComm, Inc., in exchange for approximately 100,000 shares of Lycos Common Stock valued at $4 million. GlobeComm is the owner of iName, a leading provider of lifetime personalized e-mail addresses and advanced e-mail services. Lycos provides free e-mail See Internet e-mail service. services to users based on iName's advanced products. The move is seen as an investment in an innovative ally. "Lycos has seen hundreds of thousands of individuals registering for e-mail on our site since we began offering free e-mail in October of last year," notes Bob Davis
E-mail has proven to be a critical element of building the large community of Lycos users who visit the site on a regular basis. Lycos intend to continue to enhance and integrate free e-mail services throughout the site. Additionally, Lycos' relationship with GlobeComm allows Tripod, a wholly-owned subsidiary of Lycos, to add free e-mail services for its million member community. Lycos acquired Class A Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. representing approximately 8.9% of the outstanding stock of GlobeComm on a fully diluted basis and Mr. Davis will assume a seat on the GlobeComm Board of Directors. About iName (http://www.iname.com) The iName service offers users complete, seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. of the most valuable e-mail functions: Web-based e-mail See Internet e-mail service and HTML e-mail. , forwarding to other e-mail accounts and independent POP mailbox storage. iName provides users with lifetime, personalized e-mail addresses. A division of GlobeComm, Inc., iName is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . About Lycos, Inc. (http://www.lycos.com) Founded in 1995, Lycos, Inc. (NASDAQ:LCOS) is a new generation online service that combines all aspects of community, leading Web navigation resources and cutting-edge business and consumer e-commerce solutions. Located at http://www.lycos.com, Lycos -- "Your Personal Internet Guide" -- is dedicated to helping each individual user locate, retrieve and manage information tailored to his or her personal interests. Through the acquisition of Tripod, the fastest-growing community site on the Web, located at http://www.tripod.com, Lycos has become the most full-featured community-oriented home base on the Internet, providing free personal homepages to all users. Headquartered near Boston in Waltham, MA, Lycos maintains U.S. offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Pittsburgh and San Francisco. International offices are located in Germany, Italy, France, the U.K., Spain and The Netherlands. -0- (c)1998 Lycos, Inc. Lycos(R) is a registered trademark of Carnegie Mellon University Carnegie Mellon University, at Pittsburgh, Pa.; est. 1967 through the merger of the Carnegie Institute of Technology (founded 1900, opened 1905) and the Mellon Institute of Industrial Research (founded 1913). . All other product or service marks mentioned herein are those of respective owners. All rights reserved. CONTACT: Lycos, Inc. Ruder Finn Phillip Fougere Matthew Anchin 781/370-2684 212/583-2768 pfougere@lycos.com anchinm@ruderfinn.com or iName Elissa Tomasetti 212/425-3477 x229 etomasetti@iname.com |
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