Excite@Home to buy iMall for $425 mil

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Excite@Home, Redwood City, Calif., has agreed to buy iMall, an Atlanta-based company that provides e-commerce services to Web sites. Excite@Home will issue about 8.3 million shares of Excite@Home stock, valued at about $425 million. Excite@Home also inked a deal with First Data Merchant Services, a subsidiary of First Data Corp., to provide its online merchants with e-commerce payment services. Excite@Home will offer both iMall and First Data services through its @Work business-to-business division.

Copyright July 1999, Crain Communications Inc.

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