– The much-predicted portal consolidation continued with the acquisition of Excite by internet-over cable provider @Home Networks for $6.7bn in stock, giving Excite’s shareholders about 30% of the enlarged company. Along with the obvious portal qualities that Excite brings to the table, it also owns MatchLogic, the web ad measurement tool firm it bought exactly a year ago.
– Vodafone has agreed to purchase US cellular operator Airtouch, fending off a rival bid from Bell Atlantic in a deal worth approximately $56bn.The combined $110bn company says it will now be able to offer pan European mobile phone services and promote worldwide adoption of third generation mobile standards.
– In the first of a series of hardware divestitures, Corel announced plans to sell its Netwinder division to Unix server company Hardware Canada Computing (HCC) in return for a 25% stake in that company. Corel Video is the next business to go on the block.
– Intel invested $100m in Samsung Group, to establish the South Korean firm as its principal supplier of direct rambus dynamic random access memory (DR-DRAM). The investment was described as a sensible move because Intel intends to move to DR-DRAM later this year and Samsung is promising volume production of the new memory chip technology by the second quarter of this year.
– Intel also invested $30.5m in videoconferencing company PictureTel as part of R&D and support tie-up between the two companies. The deal will enable chip giant to offer full-time specialist support for its ProShare PC-based videoconferencing line and NetStation range.
– Disaster recovery firm SunGard Data Systems struck a deal to acquire FDP in a stock transaction valued at $95m. FDP develops and sells application software systems that handle the sales, marketing and administration functions of life insurance companies and employee benefit administrators.
– 3Com acquired its silicon provider in a bid to deflect competition from rivals, such as Intel, which have their own processor development facilities. 3Com will purchase Integrated Circuit Systems for $16m cash.
