London-based BT, formerly known as British Telecom, has agreed to buy 50% stake in Excite subsidiary Excite U.K. Excite said BT agreed to pay $10 million. BT, which is an established Internet service provider in the U.K., will use the portal position to gain revenue from Internet advertising and electronic commerce. Excite said it hopes BT's presence and distribution will help it gain brand recognition in the U.K. The localized version of Excite contains 12 content areas containing news, sports and online shopping.
Copyright November 1998, Crain Communications Inc.