Cmgi Inc

CMGI Inc. said it will acquire electronic-commerce service provider Tallan Inc. in a cash and stock deal valued at about $920 million. The Internet fund said Tallan would enable its CMGI Solutions, which helps companies conduct electronic commerce, to boost billable resources by 350%. Clients of Glastonbury, Conn.-based Tallan include computer storage provider EMC Corp., EToys Inc. and Priceline.com Inc.CMGI rose $3.44 to close at $115.50 on Nasdaq.

CMGI Inc. agreed to buy UBid Inc. for about $407 million in stock in what would be the Internet venture fund's first acquisition of an online auctioneer. CMGI said it plans to use UBid's online merchandising and inventory management resources to spur growth at its affiliates, including AltaVista and MyWay.com. "There's tremendous opportunity in applying these techniques to CMGI's existing e-commerce companies," Chief Executive David Wetherell said.

SoftNet Systems Inc., which provides fast Web connections over cable-TV lines, said it started a venture with CMGI Inc. and Compaq Computer Corp. to sell wireless Internet service in airports and hotels, targeting business travelers throughout the U.S. SoftNet and its partners will invest $100 million to start SoftNet Zone, which will sell online access for both wireless devices and laptops plugged into its network.

CMGI Inc. introduced a venture capital fund of as much as $1 billion to focus on companies that offer Internet technologies and infrastructure. The At Ventures Technology Fund will be headed by managing partner Lior Yahalomi. He joins At Ventures from Gateway Inc., where he was vice president for new ventures and supervised the personal computer maker's efforts to move into Internet, online access and electronic commerce businesses. CMGI, based in Andover, Mass.

Internet venture fund CMGI Inc., in a move to take on leading Web ad agency DoubleClick Inc., said its Engage Technologies Inc. unit will acquire two CMGI-controlled businesses, Adsmart and Flycast Communications Corp., for about $2.46 billion in stock. In response, Engage shares soared $20.56, or 27%, to close at $97.56 on Nasdaq.

A former president of NBC Television, Neil Braun, has accused CMGI Inc. of refusing to honor an employment contract worth at least $50 million in CMGI stock. In a federal lawsuit filed in Manhattan, Braun says CMGI, which runs several venture capital funds investing in Internet companies, hired him in February to help develop a "strategy for becoming the preeminent broadcaster of entertainment on the Internet."

Internet venture fund CMGI Inc., whose shares are up tenfold over the last 12 months, posted a smaller-than-expected fiscal first-quarter loss on Wednesday and announced its third stock split for 1999. After the close of trading, the Andover, Mass.-based company said it lost $117.4 million, or $1.08 a share, well under the anticipated $1.76 a share. The stock will split 2-for-1 on Jan. 11 for holders of record Dec. 28. CMGI also said that it will buy e-mail marketer Yesmail.com Inc. for $523.

Internet venture fund CMGI Inc. agreed to buy online advertising agency Flycast Communications Corp. for about $690 million in stock. This would be the third online-advertising-related transaction in two weeks for Andover, Mass.-based CMGI. San Francisco-based Flycast, whose advertisers include E-Trade Group Inc. and IXL Enterprises Inc., provides $1.4 billion worth of advertisements on 1,200 Web sites every month. Terms call for CMGI to exchange 0.

Compaq Computer Corp. said it invested in a unit of Internet venture-fund company CMGI Inc. to gain online marketing technology. Terms weren't disclosed. In addition, Andover, Mass.-based CMGI completed its $2.3-billion purchase of a majority stake in Compaq's AltaVista search site. Compaq will use technology from CMGI's Engage Technologies Inc. unit to tailor Internet content to customers and post banner ads and promotions on its Web site.