(March 28, 2001) -- TopicalNet, a company specializing in automated content classification, announced today that it will purchase Engage's Internet Profiles Corporation (I/PRO). Financial details were undisclosed. A subsidiary of Engage, which is majority-owned by CMGI, I/PRO provides site measurement, customer analytics and online audit services. The deal will combine TopicalNet's electronic content classification services with I/PRO's capabilities, and is expected to close in mid-April.
Engage has suffered the same revenue slump as other online advertising companies due to economic the downturn in the sector. Earlier this month, the company reported a net loss of $695.6 million. It has also laid off approximately half of its staff. -- Bonnie Tsui
Copyright March 2001, Crain Communications Inc.