Lycos Sold To South Korean Company

[garyp]

Reuters article (http://zdnet.com.com/2100-1104-5286779.html)

Spanish Internet service provider Terra Lycos is finalizing a deal to sell its U.S. portal business to a South Korean company for a price above its book value of $75 million, the Spain-based newspaper Expansion said Wednesday... Web portal Lycos was put up for sale in April at an asking price of $170 million with investment bank Lehman Brothers acting as its adviser, Expansion said

[Jeremy_Goodrich]

$75 million...wow.

Didn't Terra buy them for a pretty penny a few years ago? Seems like a low figure...but then again, does anybody use Lycos anymore? Perhaps it's a bit high, given that.

[garyp]

You're right Jeremy!

Terra Networks purchased Lycos (forming Terra Lycos) on 5/16/2000 for $12.5 Billion in Terra stock!!!

You can read about it here. (http://juno.lycos.com/press/terra.html)

[garyp]

It seems the sale is not a done deal. (http://www.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=MTFH6110 8_2004-07-29_03-18-02_SEO62853_NEWSML&ric=KR)

[andrewgoodman]

For $75 million, K.J. Choi could have bought them and turned it into his own personal Golf Channel. :D

[JohnScott]

$75 million seems a bit low, considering the traffic they still get. ...

Or maybe not:


http://www.alexa.com/data/details/traffic_details?q=&url=http://www.lycos.com/

Seems their traffic is dropping off.

[garyp]

The sale of Lycos is now official. (http://news.yahoo.com/news?tmpl=story&u=/nm/20040802/wr_nm/internet_korea_lycos_dc_2) The company was sold to Daum for $95 million/U.S.

[AussieWebmaster]

It would be cool to see an Asian or European engine stretching into the US market.