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CMGI Reportedly in Talks to Buy Altavista.

CMGI Inc is said to be in talks to buy the internet properties Altavista, Zip2.com and Shopping.com from Compaq Computer Corp for $2 to $3bn in stock. The Wall Street Journal said a deal could be reached by Thursday. Still struggling to digest Digital Equipment Corp, Compaq has warned investors and analysts to expect losses this quarter and more layoffs to come. Managers might feel that divestment of non-core businesses may help the company regain its balance. As for CMGI, internet properties are its bread and butter. It already has an 18% stake in Lycos Inc, the number two web portal behind Yahoo Inc. Catherine Taylor of CMGI Investor Relations refused to speculate on market rumors, while Altavista could not be reached for comment.
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Publication:Computergram International
Geographic Code:1USA
Date:Jun 24, 1999
Words:126
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