CMGI to acquire for $407 million

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CMGI, an Internet investment company, is acquiring, an auction site, in an all-stock transaction valued at approximately $407 million. CMGI plans to accelerate business-to-business and business-to-consumer traffic growth and revenue through relationships with its properties such as, iCAST, and AltaVista. The deal is expected to close in May, pending shareholder and regulatory approvals.

Copyright February 2000, Crain Communications Inc.

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