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Technology / AI and automation

YAHOO! COMPLETES FOUR11 BUY, TAKES $4M CHARGE

Yahoo! Inc said Thursday that it had completed the acquisition of online directory service and e-mail provider Four11 Corp, announced earlier this month (CI No 3,264). The acquisition will result in a charge of roughly $4m to be taken in the fourth quarter of 1997. In conjunction with the acquisition, Yahoo! issued or reserved for issuance 1,654,099 shares of Yahoo! common stock for all Four11 shares, options and warrants. The transaction is being accounted for as a pooling of interests. Yahoo! recently introduced Yahoo! Mail, its free web-based e-mail service based on Four11’s RocketMail technology.

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CBR Staff Writer

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