Terra Lycos Enters New Strategic Agreements in Korea.Business/Technology Editors Terra Lycos (MC: TRR TRR Transportation Research Record (Journal) TRR Test Readiness Review TRR Target Ranging Radar TRR Total Rate of Return TRR Taiwan Research Reactor ; 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 : TRLY), the largest global Internet network, today announced, in a series of transactions, that it has agreed to sell its stake in Lycos Korea and has entered into a strategic agreement to license the Lycos brand and certain Lycos products to Lycos Korea. This allows Terra Lycos to maintain a presence and continue as one of the leading consumer Web brands in Korea. SK Telecom announced separately today that it has agreed to acquire a stake in Lycos Korea and will manage the company's operations. Mirae Corporation will maintain a position in the joint venture. Terms of the various agreements were not disclosed. As a result of the transactions, SK Telecom expects to, through Lycos Korea, become a wired and wireless portal A Web site that supports a user with a smartphone or alphanumeric pager. It may offer a variety of features, including providing a springboard to other (WAP based) wireless sites, the ability to select content to be pushed to the user's device as well as providing a point of entry for services leader. "We are pleased to maintain the Lycos brand in this important market," said Juan Rovira, executive vice president of international joint ventures of Terra Lycos. "The new relationship we have formed with SK Telecom makes good business sense for Terra Lycos and allows us to preserve our dominant global position." About Terra Lycos Terra Lycos is a global Internet group with a presence in 43 countries in 20 languages, reaching 115 million unique users per month around the world. The group, which is the result of Terra Networks Terra Networks, S. A., usually referred to as "Terra", is an Internet multinational company with headquarters in Spain. Part of Telefónica Group (the former Spain's public telephone monopoly and now one of the most important telecommunications companies in the world), Terra S.A.'s acquisition of Lycos, Inc. in October 2000, operates some of the most popular Web sites in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Europe, Asia and Latin America, and is the largest access provider in Spain and Latin America. The Terra Lycos network of sites includes Terra in 17 countries, Lycos in 26 countries, Angelfire.com, Atrea.com, Azeler.es, Bumeran.com, Direcciona.es, Educaterra.com, Emplaza.com, Gamesville.com, HotBot.com, Ifigenia.com, Invertia.com, Lycos Zone, Maptel.com, Matchmaker.com, Quote.com, RagingBull.com, Rumbo.com, Tripod.com, Uno-e.com and Wired News (Wired.com), and others. With headquarters in Barcelona and operating centers in Madrid, Boston and elsewhere, Terra Lycos is traded on the Madrid stock exchange Madrid Stock Exchange (Bolsa de Madrid) The largest of Spain's four stock exchanges. (TRR) and the Nasdaq electronic market (TRLY). (c) 2002 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 Terra Networks, S.A., Lycos, Inc. or their respective owners. All rights reserved. |
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