LookSmart, BT form global Web navigation venture

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Looksmart, an online navigation company, and global communications giant British Telecommunications, have created a joint venture to create and distribute portal services throughout Europe and Asia. The venture combines Web navigation with access on a global basis; the companies believe the portal market in Europe and Asia will overtake that of the U.S. in the next five years. Together, they will commit up to $200 million to capture the leadership position in these markets.

Copyright November 1999, Crain Communications Inc.

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