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Telescan, GlobalNetFinancial.com merge in $332M deal

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Houston--In a $332 million deal, Telescan Inc. will merge with London-based GlobalNetFinancial.com, a financial news and information portal. Telescan develops Web sites for clients such as Citigroup, American Express Co. and America Online Inc. The combined company, which will have dual headquarters in New York and London, will concentrate on the U.S. and European b-to-b e-finance marketplaces. The deal is significant because no single vendor yet dominates this space.
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