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CMGI to acquire uBid.com for $407 million

Published on .

CMGI, an Internet investment company, is acquiring uBid.com, an auction site, in an all-stock transaction valued at approximately $407 million. CMGI plans to accelerate uBid.com business-to-business and business-to-consumer traffic growth and revenue through relationships with its properties such as MyWay.com, iCAST, Yesmail.com 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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