View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 16, 1999


By CBR Staff Writer

Online retailing giant said Tuesday that it has taken a minority interest in Geoworks Corp, the Alameda, California based company that supplies software and services for wireless communications devices. Amazon paid $5m for a roughly 7.0% interest in Geoworks and will take over the company’s Seattle office and staff. The deal appears to have been made primarily because Amazon wanted the services of the 19 software engineers working at the location, and the company said it had no plans to enter the software market for wireless devices, describing the stake as passive. Amazon paid $4.10 a share for 1.2 million newly-issued shares, or a 31% premium Friday’s closing price of $3.03. Geoworks, which last year expanded its business model to include the delivery of content over digital phones and other devices, has announced that advertising will be a key component of that strategy. The idea is that ads on the devices could be linked directly back to retailers such as Amazon through a one- button response to a call center, where the user can complete purchases.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.