InfoSpace, a provider of commerce, information and communication infrastructure services to wireless carriers, merchants and Web sites, plans to buy Go2Net and its network of entertainment, financial and electronic commerce Web portals for $4.01 billion in stock. The deal would create a single company providing infrastructure and services for e-commerce, high-speed Internet access and wireless technologies. The transaction has been approved by the boards of each company and is subject to approval by InfoSpace and Go2Net shareholders. Vulcan Ventures (the investment vehicle of Paul G. Allen), Russell C. Horowitz (chairman-CEO of Go2Net) and other Go2Net executives, have agreed to vote their shares, representing approximately 40% of Go2Net's outstanding stock, in favor of the merger.
Copyright July 2000, Crain Communications Inc.