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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Santa Ana's Starbase Acquiring Worldweb.net

February 13, 2001|Bloomberg News

Starbase Corp., a Santa Ana developer of Internet software, said Monday it will acquire closely held Worldweb.net Inc. for $26.2 million in stock and cash to increase its products for the creation of computer code and content.

Starbase will pay 8.3 million shares, valued at $25.6 million, based on Monday's closing price, and $560,000 in cash to acquire Alexandria, Va.-based Worldweb.net. The transaction is expected to close in a week.

Starbase's stock, which has climbed 31% this year, closed Monday at $3.09, up 3 cents a share, in Nasdaq trading.

Worldweb.net makes software that allows companies to manage and organize Web sites. Starbase's products are used for the collaboration of Web site production. Starbase's customers include Dell Computer Corp., Lucent Technologies Inc. and PepsiCo Inc.

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