Korean Daum Acquires Lycos U.S.
Tue, 09/11/2004 - 01:00.
Facts and figures
Daum Communications Corp., the Korean Internet leader, announced on October 6, that it has completed the acquisition of Lycos, Inc. The transaction, first announced in July of this year, includes the Lycos.com site as well as Lycos' 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.
In February of this year, Lycos unveiled a new corporate strategy centered on personal connectivity. The strategy was specifically designed to enhance the continuation of its successful subscription services and performance based advertising model. Lycos U.S. achieved EBITDA profitability last year, as the company launched new products and controlled expenses. This summer Lycos launched two new connectivity products, People and Discussion Search, and plans call for more product introductions later this autumn.
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.
In February of this year, Lycos unveiled a new corporate strategy centered on personal connectivity. The strategy was specifically designed to enhance the continuation of its successful subscription services and performance based advertising model. Lycos U.S. achieved EBITDA profitability last year, as the company launched new products and controlled expenses. This summer Lycos launched two new connectivity products, People and Discussion Search, and plans call for more product introductions later this autumn.