Daum Communications has completed the acquisition of Lycos. The transaction includes the Lycos.com site as well as Lycos' popular specialty sites, wired.com, tripod.com, angelfire.com, matchmaker.com, quote.com, and hotbot.com.
The sale also includes ownership of the Lycos brand globally excluding Europe. Lycos will continue to operate as a stand alone business entity with its U.S. headquarters in Waltham, Massachusetts.
Daum is the number one Internet site in Korea, and a leader throughout the Asian markets, focusing on community, e-commerce and on-line transaction. Daum brings to the union expertise and successes from its Korean business. With 75% broadband penetration, Korea tops the list of broadband and wireless markets. The new combination will focus on the areas of greatest strengths of the two companies: search, community and web publishing.
Read the full article at WebProNews.
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