Business Services Industry
Internet News Provider Individual Inc. to Buy Web Software Maker.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, June, 1996 by Bray, Hiawatha
Jun. 4--Burlington-based Individual Inc., which offers customized Internet news services, has struck a deal to buy FreeLoader Inc., maker of a popular software package that can automatically download Web pages at preset times.
The owners of Washington-based FreeLoader will receive $2 million in cash and 1.8 million in Individual common stock; Individual estimates the value of the deal at $38 million. The purchase is to be completed by the end of June.
Rich Vancil, Individual's vice president of marketing, said the two companies complement each other well. Individual offers a subscription service called NewsPage, where subscribers can create a customized news briefing by selecting a variety of news sources available on the Internet. But the subscriber must...
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