[Aside: did anyone else notice that QCOM was up 160 bucks a share today?
Welcome to the $100 billion club, Qualcomm... all it took was a price
target of 1000 by Paine Webber today to get you there... just two days
from Y2K and QCOM shares are sitting near the number of the beast @ 660...]
> ANDOVER, MA and SAUSALITO, CA -- December 29, 1999 -- CMGI, Inc.
> (Nasdaq: CMGI), the world's largest and most diverse network of Internet
> companies, has entered into an agreement to acquire Equilibrium, a
> leading provider of automation solutions for Internet media development.
> The parties expect to close the transaction in January 2000. Following
> the closing, Equilibrium would become a majority-owned operating company
> in the CMGI network. Terms of the transaction were not disclosed.
> Equilibrium is a pioneer in the automation of digital content creation
> and the developer of award-winning packaged automation software. The
> company has built on its expertise to create the next generation of Web
> content infrastructure solutions. This new initiative will complement
> CMGI's diverse network of Internet companies particularly as CMGI
> continues to expand its reach in infrastructure technologies. Planned
> release of Equilibrium's infrastructure products is set for the second
> calendar quarter of 2000.
> "This acquisition will provide benefits to Equilibrium while offering
> state-of-the-art content infrastructure technologies to companies across
> the CMGI and @Ventures network," said David Wetherell, Chairman and CEO,
> CMGI. "Equilibrium's automation solutions permit Web site content to be
> published, changed and updated in order to meet the needs of the end
> user. We look forward to introducing and using Equilibrium's solutions
> across our network to enhance performance and attract Web users."
> "With the support and financial backing of CMGI, Equilibrium is well
> positioned to provide the first truly dynamic content infrastructure for
> the Internet," said CEO Steve Denebeim. "CMGI has built a successful
> network of businesses that today include some of the leading Web brands
> and infrastructure providers. We look forward to working with these top
Fewer clients. Less money.
-- Jerry Maguire