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Autoweb.com to License to AOL

May 18, 2000|Bloomberg News

Autoweb.com Inc., an online auto dealer, agreed to license its vehicle information and technology to America Online Inc. for use on the world's largest Internet service. Financial terms of the four-year agreement weren't disclosed. Autoweb.com services, including new-car features and comparison prices, will be available on the AOL, AOL.com, CompuServe, Netscape Netcenter and AOL Digital City sites. Santa Clara, Calif.-based Autoweb.com also will increase advertising on AOL. Autoweb.com shares rose $1, or 28%, to close at $4.56 in heavy Nasdaq trading. AOL closed off $1.25 at $56.75 on the NYSE. Three weeks ago, Autoweb.com reached a similar agreement with Internet search service Lycos Inc., which this week announced a deal to be acquired by Spanish Internet company Terra Networks.

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