Break-up fee agreed if Excite deal falls through
@Home set to pick up a cool $200 million
Magic Quadrant for Enterprise Backup/Recovery
@Home stands to make $200 million from Web portal Excite if the agreed take over deal falls flat on its face or if it isn't completed by 30 September 1999. The payment of the break-up fee, reported by Broadcasting & Cable online, appeared in a US Securities and Exchange Commission filing and seems to signal @Home's eagerness to buy into the number two portal. Earlier this week the high speed US Internet service provider announced it was to pay $6.7 billion for Excite (see Merger makes Excite feel @Home). The company hopes that the deal will accelerate the adoption of broadband technology by showing Excite's narrowband users the benefits of a fat pipe service. ®
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