The @Home Network has agreed to buy Excite in an all-stock transaction valued at $6.7 billion. The announcement drove the stock prices of both Redwood City, Calif.-based companies higher. Excite closed the day up $42 1/2, at $110. While @Home closed at $115 3/8, up $13 3/8. The deal combines @Home's broadband technology and cable distribution with Excite's brand name and user reach.
Copyright January 1999, Crain Communications Inc.