Terra completes acquisition of Lycos
Daum Communications Corp., a South Korean operator of Web sites, completed the purchase of all shares in Lycos Inc. from Spain’s Terra Networks SA, Terra said in a note to the Spanish stock market regulator. It bought 100 percent of Lycos following approval for the sale by the U.S. antitrust regulator, Terra said. The deal was agreed to on Aug. 2. The acquisition may help Daum, ranked by Alexa Internet Inc. as the most visited Korean Web site, to expand into the United States. The sale marks the second ownership change in four years for U.S.-based Lycos after the company fell behind rivals such as Google Inc. in popularity. Lycos once rivaled Yahoo! Inc. as one of the world’s most used Internet search engines.
with the Korea JoongAng Daily
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