CMGI and Compaq to make combined $75 million strategic investment in Engage.

0 Comments | M2 Presswire, June, 2000

M2 PRESSWIRE-21 June 2000-Engage: CMGI and Compaq to make combined $75 million strategic investment in Engage (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:21062000 Engage, Inc. (Nasdaq: ENGA), the leading provider of next generation online marketing solutions and a majority-owned operating company of CMGI, Inc.

(Nasdaq: CMGI), today announced that it will receive strategic follow-on investments from CMGI and Compaq Computer Corporation (NYSE: CPQ), through its wholly owned subsidiary, CPQ Holdings, Inc., for a combined $75 million. Engage expects to use the proceeds for operating purposes and to fund continued expansion. Under the terms of the deal, Engage will issue a total of approximately 5.0 million shares of common stock to CMGI and Compaq in...