Feeds

Lycos Inc. flogged for $105m

Korean portal in charge now

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Korea's top portal - Daum Communications - is to buy Lycos Inc. for $105m (£57m) as part of a move to break into the US Internet market.

Said Daum in a statement by way of The Korea Times: "Through the acquisition, we plan to establish our presence in the US, one of the fastest growing Internet markets in the world, and set the foundation on becoming a leading global Internet company."

For Terra, the move appears to be in line with its strategy of "strengthening its presence in geographical areas in which the Telefonica Group has significant operations and in the Spanish and Portuguese speaking market".

Neither Terra Networks USA nor Terra's stake in Lycos Europe are affected by the sale of Lycos Inc..

Lycos Inc. contributed around 16 per cent of the income generated by the Terra group last year. As a result, Terra warned that the sale would lead to a fall in earnings for the current financial year.

For the six months to the end of June, Daum Communications reported record first half 2004 revenues of $78m (£42) up 47.2 per cent on the same period last year while operating income rose 30 per cent to $19.8m (£10m). ®

Related stories

Lycos cuts ribbon on 1GB email service
Terra Lycos attracts more paying punters
Terra Lycos narrows FY loss
Lycos Communities disbanded

Intelligent flash storage arrays

More from The Register

next story
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
MOST iPhone strokers SPURN iOS 8: iOS 7 'un-updatening' in 5...4...
Guess they don't like our battery-draining update?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.