Lycos Sells Quote.com to Interactive Data Corporation for $30 Million
Transaction Allows Lycos to Focus on Core Strategy Moving ForwardWALTHAM, Mass. - Feb. 2, 2006 - Lycos, Inc. (www.lycos.com), a media destination for creators and consumers of quality content, yesterday announced the sale of its finance site Quote.com® (www.quote.com) to Interactive Data Corporation (NYSE: IDC), a leading global provider of financial market data and analytic tools to institutional investors, active traders and individual investors. On February 1, 2006, Interactive Data entered into a definitive agreement to acquire Quote.com and related assets from Lycos, Inc. for $30.0 million in cash. The acquisition is expected to close during the first quarter, subject to customary closing conditions including governmental approvals. Upon completion of the transaction, the assets of Quote.com will be operated as part of Interactive Data's eSignal division. "Quote.com has become an industry leader in providing premium subscription-based charting and analysis tools, and considered to be one of the leading brands of the Lycos Network," said Alfred Tolle, chief executive officer, Lycos, Inc. "Over the past year, however, we have evolved our business to focus on digital content creation, as a destination for people to create, store and market content. It became evident that Quote did not fit this strategy and we began looking at a suitable, qualified partner for Quote." Since joining the company in 2005, Tolle has defined a new direction for Lycos, as a digital media platform for content creators, and a destination for consumers with appetites for all types of content, from professional to amateur, to niche content and beyond. "The Lycos brand continues to resonate with millions of web users all over the world, and my goal has been to focus on our assets and to reinvigorate the Lycos brand," Tolle added. Lycos' digital publishing strategy focuses on the core strengths of the company, specifically award-winning, original content from Wired News (www.wired.com), premier web publishing and hosting services and blogging tools from Tripod (http://www.tripod.com) and Angelfire (www.angelfire.com), and its recently launched social networking platform, Lycos Planet (http://planet.lycos.com). Planet is the first imported product from Daum, a leading internet portal in Korea and parent company of Lycos, Inc., adapted for the U.S. audience on Lycos. Since its launch in October, a new Planet is created every minute on Lycos, with more than 1,000 new registered users joining Planet each day. In the coming weeks, Lycos will introduce its new games destination-Lycos Games-and enhance its recently relaunched Lycos Entertainment and Lycos Music destinations, with exclusive content and service partnerships, designed to revolutionize the way people create and consume content online.
About Interactive Data Corporation
Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The Company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than 3.5 million securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial services and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management, and valuation activities.
Interactive Data Corporation is headquartered in Bedford, Massachusetts. Through its branded businesses, FT Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 2,100 employees in offices located in North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 62 percent of the outstanding common stock of Interactive Data Corporation.
The FT Interactive Data business includes FT Interactive Data Corporation, a Delaware corporation. The ComStock business includes ComStock, Inc., a New York corporation
The eSignal division (www.esignal.com) of Interactive Data Corporation is a leading global provider of financial and business information to professional and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, eSignal provides streaming, real-time market data, news and analytics. eSignal's suite of products includes eSignal®, Advanced GET&trade, QuoTrek®, FutureSource®, MarketCenter&trade, and MarketCenter LIVE™.
About eSignalThe eSignal division (www.esignal.com) of Interactive Data Corporation is a leading global provider of financial and business information to professional and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, eSignal provides streaming, real-time market data, news and analytics. eSignal's suite of products includes eSignal®, Advanced GET&trade, QuoTrek®, FutureSource®, MarketCenter&trade, and MarketCenter LIVE™.
About Lycos, Inc.
Lycos is one of the original and most widely known Internet brands in the world, evolving from one of the first search engines on the web, into a comprehensive network of social media web sites that foster online communities.>Lycos has been a pioneer in intelligent spidering search technology, combining its proprietary technology with other best in class search services to provide a powerful and relevant search experience for its users.
Times change, and Lycos has changed with them, evolving into digital media power house with two major divisions
Lycos, is a network of easy to use community and social sites. Lycos's award-winning products and services include tools for blogging, web publishing and hosting, online games, e-mail, and search. The Lycos Network of sites and services include Lycos.com, Tripod, Angelfire, HotBot, Gamesville, WhoWhere, and Lycos Mail. Integrated, these sites help in bringing people together to interact, conduct commerce, have fun, and experience the best the Internet has to offer, is in our DNA. We offer 40 Local Sites in 120 Languages with a community spanning across 177 Countries. Lycos consistently averages 12 - 15 million monthly unique visitors in the U.S.
Lycos employs over 500 people working out of 24 offices worldwide, including the US, Argentina, Brazil, Chile, Uruguay, Mexico, the UK, France, Germany, Italy, Ukraine, Sweden, Serbia, Israel, China, Thailand, Panama, India, Emirates, Russia and Australia, and with representatives or partners in Spain, South Africa, and The Netherlands.www.lycos.com
US PR Department
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behavior of financial and digital marketing industry, and fluctuations in exchange rates; from future integration of businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.