Yahoo! agrees to buy Viaweb, sets up Yahoo! Store

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Yahoo! agreed June 8 to buy online commerce software company Viaweb for an estimated $49 million. Yahoo! plans to expand its online merchant services to assist small and midsize businesses set up and operate online stores. Viaweb automates online transactions for Web site owners.

Under the terms of the deal, Yahoo! will issue about 455,000 shares of Yahoo! common stock in exchange for all outstanding Viaweb shares, options and warrants. The buyout is expected to be finished in June.Yahoo! also announced that it's launching Yahoo! Store, offering users e-commerce tools, ranging from online transaction capabilities to tracking site traffic.

Copyright June 1998, Crain Communications Inc.

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