147 dotcoms die in Q1
PrintRecord number of shutdowns
Posted in e-Business, 10th April 2001 22:17 GMT
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The first quarter of the year saw a record 147 dotcoms go out of business, although there are signs that the dotcom death rate is slowing.
The figure compared to just five dotcom shutdowns for January to March the previous year, and a total of 222 closures (with 15,000 jobs lost) for the whole of 2000.
In March 2001 41 Internet companies shut their doors, but this was a slight improvement on January and February when the figure was 53 for each month, according to a report by Webmergers.
Companies spent around $13 billion on buying 380 dotcoms, with $5 billion of this spent in March on 143 deals.
Most of the dotcoms bought in the quarter were infrastructure companies, accounting for 132 deals worth $9 billion.
According to the survey, the top three Internet acquisitions of the quarter belonged to Siemens, which bought Efficient Networks for $1.5 billion, LSI Logic and its $858 million buyout of C-Cube Microsystems, and Convergys, which bought Geneva Technology for $693 million. ®
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